August 23: The business of multinational company Surya Nepal Pvt Ltd is increasing every year.…
August 23: The business of multinational company Surya Nepal Pvt Ltd is increasing every year.…
August 23: The government has invested more than Rs 1 billion in four years since launching the concept of industrial villages to develop micro, domestic and small industries at the municipal…
August 23: With the opening of Janakpur-Jayanagar railway service, it has become easier for Indian pilgrims to visit Nepal.…
August 23: Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha has stressed on the need to create a favourable environment for attracting religious tourists to…
August 23: Nepal Electricity Authority (NEA) has signed a Memorandum of Understanding (MoU) with the Nepal Police (NP) for the construction and operation of charging stations for electric vehicles…
August 22: The government has signed a bilateral agreement with the UK with the aim to provide highly-paid jobs to Nepali youths in the…
August 22: Tatopani and Rasuwagadhi customs, the major trade checkpoints in the north, will not be opened anytime soon.…
August 22: There is hardly any person who hasn’t heard about Hattichhap slippers and Goldstar shoes, which are used synonymously in the domestic market of…
August 22: Bank deposits declined by more than Rs 100 billion in the first month of the current fiscal…
August 22: The field survey of Raxaul-Kathmandu railway is likely to be completed soon.…
August 22: The Government of Nepal has signed a memorandum of understanding (MoU) with the United Kingdom to send medical human resources to the…
August 21: Nepal Electricity Authority (NEA) exported electricity worth around Rs 2 billion to neighbouring India in the first month of the current fiscal year (FY 2022/23) beginning from July 17, 2022. …
August 21: Pashupati Murarka, former president of the Federation of Nepalese Chamber of Commerce and Industry and the director of Murarka Group has said that since Nepal is an underdeveloped country, there is a lot of potential for expansion of…
August 21: Delay in the services provided by the Company Registrar's Office is not a new…
August 21: Myanmar's ambassador to Nepal, U Sein Oo informed that preparations are underway to start direct flights from Yangoon, Myanmar to the newly-built Gautam Buddha International Airport in…
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">August 23: The business of multinational company Surya Nepal Pvt Ltd is increasing every year. The annual turnover of company in 2021 was about Rs 24.5 billion. The company, which has a large share in the cigarette trade of Nepal, did business worth Rs 24 billion 493 million during the review year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The company has a unique identity in the business world of Nepal. It did business worth Rs 24.47 billion in 2020 and Rs 25.13 billion in 2019. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the rating agency Care Rating Nepal, Surya Nepal earned a net profit of Rs 9.41 billion in 2021 and Rs 9.55 billion in 2020.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The company produces Surya brand cigarettes, matchsticks, incense sticks and chocolates. Currently, the company produces Surya Legend, Surya 24 Karat, Surya Luxury, Shikhar Filter Kings, Khukuri Filter, Pilot Filter, Electric Filter, and Chautari brand cigarettes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Sanjeev Puri, is the chairman of the company which is doing the most business among FMCG in Nepal. He is also the chairman of the Indian company ITC India Limited. ITC, which is run through joint investment of foreign and local businessmen of India, has 59 percent share in Surya Nepal, while 39 percent stakes are owned by Nepali companies and investors and 2 percent by British American Tobacco (Investment) Limited UK. Surya Nepal, which was established in 1986, has been among the top taxpayers of Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Surya Nepal has managed to remain in the top-ten list of taxpayers for a long. Care Rating has rated the company in A-One category.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Due to the lockdown imposed to contain the Covid-19 pandemic in the country and the increase in the price of raw materials, the company's business during that period was affected and the projected income shrunk. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Since Surya Nepal is not a public company, ordinary investors do not have any benefit or loss from its profit. However, the revenue received by the government, the employment created by the company and the contribution made to the Nepalese economy are important.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">There are other companies operating in Nepal with domestic and foreign investment as well. However, others have not achieved as much success as Surya Nepal. Foreign direct investment in companies in Nepal has been giving good returns due to the excellence in business by those companies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Lately, Surya Nepal is planning to invest in five-star hotels as part of its business expansion programme. The company has more than 100 distributors across the country. It has industries in Simra of Bara and Tanahun. The company is also involved in various social works under its corporate social responsibility as well.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-23', 'modified' => '2022-08-23', 'keywords' => '', 'description' => '', 'sortorder' => '15587', 'image' => '20220823011401_Company-HO1 - Copy.jpg', 'article_date' => '2022-08-23 13:13:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15845', 'article_category_id' => '1', 'title' => 'Govt Spent Rs 1.05 Billion for Industrial Village but Infrastructure not Yet Ready', 'sub_title' => '', 'summary' => 'August 23: The government has invested more than Rs 1 billion in four years since launching the concept of industrial villages to develop micro, domestic and small industries at the municipal level.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 23: The government has invested more than Rs 1 billion in four years since launching the concept of industrial villages to develop micro, domestic and small industries at the municipal level. Although the government has declared more than 105 industrial villages since the approval of the procedure in 2018, it has so far failed to build the required industrial infrastructure.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">This programme was officially started after the Council of Ministers approved the 'Industrial Village Declaration and Operation Procedure-2075' in March 2018. Since then, the Ministry of Industry, Commerce and Supplies has already spent Rs 1.05 billion in the first phase of setting up those industrial villages. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After the recommendation of the rural municipality to develop the industrial village up to the municipal level, the ministry provides a budget of Rs 10 million per industrial village. Accordingly, the investment has been made in that industrial villages so far.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">It has been four years since it was announced that the industrial villages would be built by mobilizing local resources, raw materials, technology and skills, but not a single village has been operational so far.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Chandrakala Paudel, joint secretary at the ministry, admitted that not a single industrial village has been completed so far. She clarified that it took a long time to set up the industrial village because the detailed project report and environmental impact assessment took more time than expected.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"There wasn’t any problem about land acquisition because the concept of industrial village concept based on government land," Poudel said, adding that some DPRs revealed that the cost estimate would be more than the allocated budget.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“We will assess the current delay and work to bring the industrial villages into operation as soon as possible,” she added. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government has announced the establishment of industrial villages in all 753 local units of the country. The work of infrastructure development for the industrial villages has not been able to pick up speed.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Poudel said that since the concept of creating industrial villages has already started and more than 100 villages have been announced, the focus will be on building industrial infrastructure from the current financial year. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">s</span></span></p> ', 'published' => true, 'created' => '2022-08-23', 'modified' => '2022-08-23', 'keywords' => '', 'description' => '', 'sortorder' => '15586', 'image' => '20220823121105_Industrial-Policy.jpg', 'article_date' => '2022-08-23 12:10:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15844', 'article_category_id' => '1', 'title' => 'Indian Passengers Overwhelmed by Janakpur-Jaynagar Railway Service', 'sub_title' => '', 'summary' => 'August 23: With the opening of Janakpur-Jayanagar railway service, it has become easier for Indian pilgrims to visit Nepal. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 23: With the opening of Janakpur-Jayanagar railway service, it has become easier for Indian pilgrims to visit Nepal. Since the train started running regularly from Kurtha of Nepal to Jayanagar of India, it has become easy for religious tourists as well as other passengers to travel in Nepal.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Prime Minister Sher Bahadur Deuba and Indian Prime Minister Narendra Modi had launched the cross-border train service virtually on April 2, 2022. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">India had completely stopped the train service since 2014 for the upgrading the railways. With the resumption of train services from April, it has become convenient for Indian tourists to visit Janaki Temple in Janakpur as well as Pashupatinath temple in Kathmandu. Passengers also say that the railway route has made it easy for them to travel. They say that the operation of the train has helped the transport service between India and Nepal has become organized.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Indian tourist Suman Bhiwa said that he felt happy visiting Nepal. He said that travelling has become much easier than it was before. Another Indian passenger, Sarita Kumari said that the operation of Nepal-India railway service has facilitated the passengers a lot. She requested to increase it further as the railway service only runs twice a day. She added that the cost of traveling by train has also decreased over time.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Train ticket seller Santu Kumar Yadav informed that the number of passengers is on the rise of late. He said that more trains should be added to handle the crowd of passengers. According to him, about 45 percent of passengers come from India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government issued the Railway Ordinance for the third time on March 22, 2022 to run the train. India handed over the railway to the Nepal Railway Company after extending the section towards Nepal to broad gauge and conducting a speed test.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">All the civil works for broad gauge expansion on the 34 km Janakpur-Jayanagar railway were completed four years ago. The government had announced to run trains on the Janakpur-Jayanagar route from January 2018. However, due to various reasons, it was not possible to run the train. However, with the re-operation of the train from April last year, it has become easier for Nepali and Indian citizens to travel.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-23', 'modified' => '2022-08-23', 'keywords' => '', 'description' => '', 'sortorder' => '15585', 'image' => '20220823112051_1661169484.NepaliRailway.jpg', 'article_date' => '2022-08-23 11:20:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15843', 'article_category_id' => '1', 'title' => 'Tourism Minister in Favour of Promoting Religious Tourism', 'sub_title' => '', 'summary' => 'August 23: Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha has stressed on the need to create a favourable environment for attracting religious tourists to Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">August 23: Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha has stressed on the need to create a favourable environment for attracting religious tourists to Nepal. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">He made such remark while inaugurating a museum in Pashupati area on Monday. On the occasion, Minister Shrestha pledged to do his best to create a favourable environment to bring in foreign pilgrims to Pashupatinath Temple. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">He said that the Pashupati Temple holds great significance among the Hindus around the world and many of them aspire to visit the temple once in their lifetime. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“The Pashupatinath Temple is the identity of our culture. Therefore, the Pashupati Area Development Trust needs to pay proper attention in facilitating the tourists who visit this holy shrine. It is also necessary to take care of the cleanliness and hygiene of the temple and the maintenance and renovation of the infrastructure,” said Minister Shrestha.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">He claimed that Nepal can promote religious tourism only if the country can preserve and promote its cultural heritage. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Minister Shrestha added that the government has included protection of cultural heritage in its 73-point plan for revitalizing the tourism sector. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“Preservation of cultural heritage can only ensure promotion of religious tourism,” said Minister Shrestha, adding, “It also contributes to the economy.”</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">He argued that promotion of tourism can help create employment opportunities within the country and help in realizing the dream of prosperous Nepal. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The museum, which was damaged by the mega earthquake of 2015, was renovated with the support from Nepal Investment Bank Limited. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-23', 'modified' => '2022-08-23', 'keywords' => '', 'description' => '', 'sortorder' => '15584', 'image' => '20220823101523_main-qimg-2a1ebd792ce31c2b5fb833af387014a0-lq.jpg', 'article_date' => '2022-08-23 10:14:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15842', 'article_category_id' => '1', 'title' => 'NEA signs MoU with Nepal Police for Operation of Charging Station', 'sub_title' => '', 'summary' => 'August 23: Nepal Electricity Authority (NEA) has signed a Memorandum of Understanding (MoU) with the Nepal Police (NP) for the construction and operation of charging stations for electric vehicles (EV). ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 23: Nepal Electricity Authority (NEA) has signed a Memorandum of Understanding (MoU) with the Nepal Police (NP) for the construction and operation of charging stations for electric vehicles (EV). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Inspector General of Nepal Police Dhiraj Pratap Singh and Nepal Electricity Authority's Executive Director Kulman Ghising signed the MoU amid a function on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Inspector General Singh, extending gratitude towards the NEA for the MoU, urged the NEA leadership for expanding charging stations in the police offices having huge workforce. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that Nepal Police had been collaborating with NEA in cases of theft and leakage of electricity, Singh assured that the Nepal Police was ever ready to give security to the charging stations to be built along the highways and hill areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Ghising shared that NEA was planning to build a charging station in every 60 kilometres in the highway and opined that the role of police was very important in this regard. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, collaborating with Nepal Police would be very important in addressing the security concerns of the charging stations and issues related to locating the right venue to build the charging stations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The MoU aims to promote usage of EV. The deal has been inked in the context of the environment, ecology and living creatures being affected by carbon emission from fossil-fuel powered vehicles as well as industries. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-23', 'modified' => '2022-08-23', 'keywords' => '', 'description' => '', 'sortorder' => '15583', 'image' => '20220823094530_EV.jpg', 'article_date' => '2022-08-23 09:44:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15841', 'article_category_id' => '1', 'title' => 'MoU with UK Opens New Avenue of Employment for Nepali Healthcare Professionals ', 'sub_title' => '', 'summary' => 'August 22: The government has signed a bilateral agreement with the UK with the aim to provide highly-paid jobs to Nepali youths in the UK.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 22: The government has signed a bilateral agreement with the UK with the aim to provide highly-paid jobs to Nepali youths in the UK.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Secretary at the Ministry of Labour, Employment and Social Security, Eaknarayan Aryal, and British Ambassador to Nepal, Nicola Pollitt signed the memorandum of understanding (MoU) to recruit Nepali healthcare professionals in the UK's health sector. The MoU was signed in presence of Minister for Labour, Employment and Social Welfare, Sher Bahadur Kunwar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The MoU has become a new milestone for Nepal in terms of diversifying employment destinations for the country’s youth. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The MoU has established Government to Government (G2G) bilateral agreement on fair and ethical recruitment of Nepali healthcare professionals to work in the UK's health sector. This pact is expected to encourage individuals seeking healthcare career and help strengthen the healthcare workforce in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Once selected, the Nepali healthcare professional will be provided the support required for them to be placed in the UK health system. They will also receive equal rights, privileges, protections and dignity as health professionals from the UK. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prior to this, the government has signed labour agreement with countries providing high remuneration including Israel, Japan and Mauritius. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Department of Foreign Employment of Nepal will work with the Department of Health and Social Care of the UK and its designated entity to undertake the recruitment process. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A joint press release issued after the programme reads, "An understanding has been reached to determine implementation protocol at the participation of government bodies of both countries in order to take the recruitment process to the conclusion." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">All the information related to recruitment process of health workers would be kept at Labour Ministry's website. Applicants, who fulfill the eligibility criteria, shall need to submit all required documents to the Department of Foreign Employment's online platform. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepali citizens aged between 20 and 45 years holding a valid Nepali passport, who have pursued Staff Nurse, Bachelors's Degree in Nursing (B Sc) or Bachelor of Nursing or Master's degree in Nursing from a recognized institution by the Government of Nepal can file application. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The applicant should have an active professional license from the Nepal Nursing Council and at least two years of experience in a registered hospital in Nepal. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-22', 'modified' => '2022-08-23', 'keywords' => '', 'description' => '', 'sortorder' => '15582', 'image' => '20220823093716_RS_KTM_IMGL626008222022.jpg', 'article_date' => '2022-08-22 18:21:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15840', 'article_category_id' => '1', 'title' => 'Goods Being Imported for Festive Season Stuck across the Northern Border', 'sub_title' => '', 'summary' => 'August 22: Tatopani and Rasuwagadhi customs, the major trade checkpoints in the north, will not be opened anytime soon. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">August 22: Tatopani and Rasuwagadhi customs, the major trade checkpoints in the north, will not be opened anytime soon. Both of these checkpoints have been closed since the last two weeks due to the extension of lockdown in Lhasa amid rise in coronavirus infection. Officials say that the border points with China will not be opened immediately.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the Nepali Consulate in Lhasa, China had announced a lockdown there until Sunday. However, the lockdown has been extended till Tuesday as the Covid patients are still seen and the tests have not been completed. China has not released any goods to Nepal for the last two weeks citing the reason of Covid-19. According to the Nepal Trans Himalayan Border Commerce Association, 400 containers carrying goods worth around Rs 5 billion have been currently stuck on the road across the border.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Bharat Karki, the owner of New Sugam Enterprises and general secretary of the association informed that around 350 to 400 containers are stopped at Kerung-Rasuwa and Khasa-Tatopani areas.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">His company imports goods from China. The stopped container contains items for Teej and Dashain festivals. "China has not allowed containers carrying clothes, shoes, Chinese walnuts to be brought to Nepal," he told New Business Age.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Karki informed citing Nepal’s Consul General in Lhasa, Navraj Dhakal, that the closure announced by the Chinese side is unlikely to be lifted immediately. "Goods worth billions of rupees have been stopped. We are asking the Consul General to take the initiative to open the border. However, he is saying that it is not going to open immediately,” said Karki.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The association is preparing to meet Minister for Industry, Commerce and Supplies Dilendra Prasad Badu and request him to take initiatives to ease the border obstruction. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Prabhu Adhikari, the owner of PNP Enterprises, says that the business has become chaotic due to the stoppage of goods during the festive season. According to him, due to the sudden closure of the northern border, the businessmen are facing double expenses and debt.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">"The situation has worsened as goods worth billions of rupees have been held up on the way," he said, "We are in trouble because the border has been closed on the eve of the festival." The government should take the initiative to resume imports, he added.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The Nepal National Federation of Entrepreneurs is of the view that traders are in trouble after goods were stopped at the Chinese border on the eve of Dashain. The federation has also requested the government to solve the problem at the border immediately through diplomatic initiatives. President of the Federation Kumar Karki said, “There has been a problem at Tatopani and Kerung checkpoints for some time. Imported materials are being stopped at the Chinese border. Exports have been stalled for a long time. The government should take the initiative to open it immediately.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to him, the goods intended for the festivals have been stopped at the Chinese border. If those goods do not arrive on time, the entire business is under risk of going bankrupt. If the border is not opened, there is a situation where many industrialists may flee from their businesses. Karki says that the government should start diplomatic initiatives as soon as possible to solve the problems seen at the border.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-22', 'modified' => '2022-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '15581', 'image' => '20220822061309_1661142938.Tatopani Naka.jpg', 'article_date' => '2022-08-22 18:12:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15838', 'article_category_id' => '1', 'title' => 'Counterfeit Shoes Helping in Promotion of Goldstar Brand', 'sub_title' => '', 'summary' => 'August 22: There is hardly any person who hasn’t heard about Hattichhap slippers and Goldstar shoes, which are used synonymously in the domestic market of Nepal.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 22: There is hardly any person who hasn’t heard about Hattichhap slippers and Goldstar shoes, which are used synonymously in the domestic market of Nepal.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Goldstar, known as the shoes of Nepali lifestyle, is now not limited to the choice of the old generation, but is also accepted as a fashionable brand by urban youth. Goldstar is now so popular that counterfeit brands using its logo are rampant in the market.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">During a conversation with New Business Age on Sunday, Amir Pratap Rana, chairman and managing director of Kiran Shoes Manufactures, the company that produces Hattichhap slippers and Goldstar shoes, said that even though counterfeit shoes have hit the market in the guise of Goldstar brand, the company's business is not affected that much. Rana says that the company did not have to spend much on branding because the brand is being promoted by of those who put the Goldstar stamp on the shoes brought from abroad.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Noor Pratap Rana of Palpa started this business from Hetauda, which is now handled by his son Amir Pratap and daughter-in-law Vidushi. The production of Hattichap slippers started in 1970. Due to political changes and labor strikes, the industry was brought from Hetauda to Kathmandu in 1985. Since the Hattichap slipper factory was set up in Ring Road, the entire stretch of two kilometers area from Narayan Gopal Showk in Maharajganj towards Chabahill is known as slipper factory (Chappal Karkhana). According to Rana, after moving the industry from Hetauda to Kathmandu, Kiran Shoes Manufacturers started producing shoes.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Goldstar is one of the latest items to be exported from Nepal. According to Rana, after Goldstar got a good market, some traders and shoe manufacturers started selling counterfeit Goldstar shoes to destroy the reputation of the company. Despite repeated attempts to tarnish the company's brand, original Goldstar's market remains good.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He says that many fake shoes have come in the market lately and the customers are being cheated. According to Rana, foreign brand shoes are also sold with fake stickers. The company is currently producing 100 million pairs of slippers and Goldstar shoes daily. In Bhairahawa, seven bighas of land have been bought and a production plant is being set up. The plant will be operational shortly after. While expanding the business, the company opened showrooms and outlets in different districts and franchises in America and Australia.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company's products are exported to India, Qatar, Bahrain, Japan, Malaysia and other countries. The company provides direct employment to 2700 people, among whom 65 percent are women.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After Covid-19, the company also started producing leather shoes. Rana said that the company's goal is to increase production and export to all countries of the world by 2025, despite the decline in production due to problems in importing raw materials during the earthquake and Covid-19. Indians are also excited about the Goldstar brand for the past few years. Currently, the company exports about 75 percent of its total production to India besides other countries.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Rana sees the need for industry-friendly policies and laws to run industries and businesses in the country. He suggested that the government should cooperate with the private sector. Rana, who is also the chairman of Kumari Bank, said that he is moving ahead in a planned manner, seeing the good future of attractive, durable, affordable footwear in Nepal and abroad.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that since long-term thinking and investment are necessary to run industries and businesses, he is also considering the issue of initial public offering (IPO).</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-22', 'modified' => '2022-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '15580', 'image' => '20220822012338_20211012093138_Goldstar.jpg', 'article_date' => '2022-08-22 13:22:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15836', 'article_category_id' => '1', 'title' => 'Bank Deposits Decline in First Month of Current Fiscal Year', 'sub_title' => '', 'summary' => 'August 22: Bank deposits declined by more than Rs 100 billion in the first month of the current fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 22: Bank deposits declined by more than Rs 100 billion in the first month of the current fiscal year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Nepal Bankers Association, the total deposits of commercial banks in the last month of Fiscal Year 2021/22 stood at Rs 4541 billion, which dropped to Rs 4433 billion due to withdrawal of Rs 108 billion in the Nepali month of Shrawn (mid-July to mid-August).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bank deposits had increased by Rs 150 billion in the month of Asar (mid-June to mid-July) but the deposits started declining continually the very next month. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bank deposits declined by Rs 64 billion in the third week of July followed by withdrawal of Rs 28 billion in the third week. Likewise, bank deposits declined by Rs 4 billion in the first week of August and by Rs 25 billion in the second week followed by a decline of 13 billion the next week.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal Rastra Bank’s Spokesperson Dr Gunakar Bhatta believes that the bank deposits declined in the review month because the state-owned Nepal Oil Corporation paid its long-standing debt to the Indian Oil Corporation during the beginning of the new fiscal year and the construction companies also withdrew the amount deposited in their names by the government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bhatta believes that the amount will slowly return back to the banking system.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NOC had borrowed Rs 16 billion from the government and paid its dues to the IOC in the third week of July.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The central bank also estimates that the bank deposits declined in the first month of the current fiscal year because the unspent budget of the local levels were returned back to the state coffers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although the bank deposits declined, credit flow of banks have increased nominally during the review period.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The total credit flow of banks in the last month of FY 2021/22 was Rs 4175 billion which increased to Rs 4177 billion by mid-August.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-22', 'modified' => '2022-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '15579', 'image' => '20220822091844_Banks - Copy.jpg', 'article_date' => '2022-08-22 09:17:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15837', 'article_category_id' => '1', 'title' => 'Field Survey of Raxaul-Kathmandu Railway within 2022', 'sub_title' => '', 'summary' => 'August 22: The field survey of Raxaul-Kathmandu railway is likely to be completed soon. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">August 22: The field survey of Raxaul-Kathmandu railway is likely to be completed soon. By next December, the Konkan Railway team of India will submit the final report of the project along with the DPR and other test reports to the Government of India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">The study of this railway is being done with the grant of the Government of India. Indian newspaper Prabhat Khabar has published the news that the construction of this railway is likely to start within the year 2023 after completion of all pre-construction studies.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">Studies have shown that a train can run at a speed of 120 kilometers per hour on this route. According to the survey team, the Raxaul-Kathmandu Railway will be 140 km long. It is mentioned in the news that the last 40 km section will be electrified with double track. Similarly, it has been reported that a single line broad gauge from Raxaul extending up to 99 kilometers will be electrified. The last 40 kilometers ie the section towards Kathmandu will be built on a double track due to the geographical location. In order to avoid problems in the future, it is being tried to make the section on a double track. As the remaining 99 km will be in the Terai section, it will be easy to make the track.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">The team of Konkan Railway is currently undertaking the final survey from Raxaul to Kathmandu. Along with the field survey, the team is also conducting soil tests at the places where bridges and tunnels are to be built. It is mentioned in the news published by Prabhat Khabar that the Government of Nepal, the Indian Consulate and locals are assisting the survey team.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">According to the survey team, 12 stations will be built on this railway from Raxaul to Kathmandu. Railway stations will be built in Raxaul, Birgunj, Belwa, Manharwa, Saphi Bazar, Nijgadh, Makwanpur, Diyal, Shikharpur, Sahitakhel, Sisneri and Kathmandu.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">According to the preliminary reports, a total of 33 tunnels will have to be built along the railway line. The survey team has informed that the longest tunnel will be of 8 kilometers. In addition, 305 small bridges will have to be built between Raxaul and Kathmandu, including an 800-meter long cable bridge. The longest bridge of the railway will be 1,500 meters. Forty seven kilometers away from Raxaul, the railway will be built in forest and hill areas.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">In the year 2077, the Government of Nepal had requested the Indian government to prepare a detailed project report (DPR) of this railway, but the survey was stopped due to the coronavirus pandemic. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">From the current survey, it will be known what kind of train can be run, and at which point the main structures like tunnels, bridges and stations should be built.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">In August 2075, an agreement was reached between the governments of Nepal and India to conduct the feasibility study of this railway. Similarly, an agreement was signed with China in October 2076 to study the feasibility of the Kerung-Kathmandu railway.</span></span></p> ', 'published' => true, 'created' => '2022-08-22', 'modified' => '2022-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '15578', 'image' => '20220822093824_1661070546.jpg', 'article_date' => '2022-08-22 09:37:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15839', 'article_category_id' => '1', 'title' => 'Nepal and UK Sign Labour Pact ', 'sub_title' => '', 'summary' => 'August 22: The Government of Nepal has signed a memorandum of understanding (MoU) with the United Kingdom to send medical human resources to the UK. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 22: The Government of Nepal has signed a memorandum of understanding (MoU) with the United Kingdom to send medical human resources to the UK. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Secretary at the Ministry of Labour, Employment and Social Security, Ek Narayan Aryal and British Ambassador to Nepal, Nicola Pollitt signed the MoU amidst a programme held at the ministry on Monday, August 22. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the MoU, human resources of medical background from Nepal will get employment opportunities in the UK. The nurses going to the UK for employment need not pay any fees, the ministry informed. According to the agreement, nurses from Nepal can work in the UK for five years. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-22', 'modified' => '2022-08-23', 'keywords' => '', 'description' => '', 'sortorder' => '15577', 'image' => '20220822030755_Flag-Pins-Nepal-Great-Britain_600x600.jpg', 'article_date' => '2022-08-22 15:07:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15835', 'article_category_id' => '1', 'title' => 'NEA Exports Energy worth Around Rs 2 Billion to India in First Month of Current FY ', 'sub_title' => '', 'summary' => 'August 21: Nepal Electricity Authority (NEA) exported electricity worth around Rs 2 billion to neighbouring India in the first month of the current fiscal year (FY 2022/23) beginning from July 17, 2022. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 21: Nepal Electricity Authority (NEA) exported electricity worth around Rs 2 billion to neighbouring India in the first month of the current fiscal year (FY 2022/23) beginning from July 17, 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NEA, the state-owned producer and distributor of electricity in Nepal, traded surplus power of over 242 million units worth Rs 1.83 billion to India where power demand in monsoon is higher, NEA said. Currently, NEA is effortful to export additional 111 megawatts of electricity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">While it earned a total Rs 16.1 billion in profits from the sale of electricity in the previous fiscal year, 2021/22, the average profit from power export stood at Rs 59 million a day in the first month of the current fiscal year or the Nepali month of Shrawan (mid-July to mid-August). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NEA started trading surplus energy from monsoon on the Day-Ahead Market of the Indian Energy Exchange Limited (IEX) since June 2, 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the first phase, 39 megawatts of electricity generated from two power houses was traded with the IEX. Thereafter, 364 megawatts of electricity generated by six different power houses in the country was traded since June 10, 2022 on a daily basis at competitive rates. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Power exports took place through the 400 kV Dhalkebar-Muzaffarpur transmission line. In the previous FY, the NEA exported power worth Rs 3.8 billion. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-21', 'modified' => '2022-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '15576', 'image' => '20220821081848_NEA.jpg', 'article_date' => '2022-08-21 20:18:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15834', 'article_category_id' => '1', 'title' => '‘Cement Export has Good Potential with Government Support’', 'sub_title' => '', 'summary' => 'August 21: Pashupati Murarka, former president of the Federation of Nepalese Chamber of Commerce and Industry and the director of Murarka Group has said that since Nepal is an underdeveloped country, there is a lot of potential for expansion of industries.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 21: Pashupati Murarka, former president of the Federation of Nepalese Chamber of Commerce and Industry and the director of Murarka Group has said that since Nepal is an underdeveloped country, there is a lot of potential for expansion of industries. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">During an interview with New Business Age, he shared that the country has failed to reduce trade deficit which it could have done through increasing domestic production.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Murarka argued that since the country has become self-sufficient in cement even in such dire situation of trade deficit, the government should work to export cement as soon as possible. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He added that even after two months of announcing the budget for the current fiscal year, the government has not been able to implement the process of providing subsidy for cement export.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Murarka said that it is not easy to export cement from Nepal due to high cost of transportation and lack of adequate electricity. According to him, the country's trade deficit can be reduced to some extent by exporting cement if the government facilitates it. However, for that, the government should create an environment through policy reforms as only half of the cement produced in the country is consumed in Nepal while India can be a destination with great potential for cement export. As per him, if taxes are reduced, concessions are given in electricity tariff and export subsidies are given, Nepal's trade deficit can be reduced through export of cement. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">India's Uttar Pradesh and Bihar can be good markets for Nepal's cement. He says that domestic cement industries are not running at their full capacity as they are unable in find the export market.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that limestone, the raw material used in the cement industry, can be found locally. But the market is small, so the government should facilitate the expansion of the market in India as Nepal has already invested heavily in the cement industry in a short period of time, says Murarka. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In the past, some industries which imported clinker from abroad are now producing clinker by themselves.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Murarka also said that the private sector is facing problems due to lack of long-term vision of the government. He complained that there are various obstacles in the development of the Nepal’s economy and the industrialists are still forced to face tax-related legal troubles.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Murarka said that he got involved in business without studying. His father rose to the top by running a cloth and rice business in Lahan. He was expert at accounting at a young age and expanded his father's traditional business and now operates more than 15 businesses under the Murarka Group. He says that Murarka Group stood on the foundation built by his grandfather and father with hard work.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Murarka Group, which is doing business in Biratnagar, Nepalganj, Bhairahawa and other areas, has its own history in business travel in Nepal. About 80 years ago, Murarka Group, which started from rice and cloth business, has now expanded its investment in insurance and banking sector as well as steel, cement, paints, refined oil, hydropower, automobiles, mobile phone industries etc. Murarka Group is operating Arghakhanchi cement plant in Bhairahawa with a capacity to produce 3,000 tons of cement per day. Nepal Hydro with a capacity of 4 megawatts and Modi Hydropower with a capacity of 20 megawatts are being constructed with investment from this group as well.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The group, which believes that it should invest only in areas where profits are guaranteed, is planning to expand its investment in various areas in the future, even though business expansion has been hindered due to lack of liquidity.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-21', 'modified' => '2022-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '15575', 'image' => '20220821032755_1661066193.jpg', 'article_date' => '2022-08-21 15:27:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15833', 'article_category_id' => '1', 'title' => 'Companies Act Hampering Business Environment', 'sub_title' => '', 'summary' => 'August 21: Delay in the services provided by the Company Registrar's Office is not a new issue.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">August 21: Delay in the services provided by the Company Registrar's Office is not a new issue. However, no one seems to be paying attention to the fact that the Company Registration Act is deteriorating business environment.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Individuals wanting to start an industry in Darchula in the far west with an investment of Rs 500,000 have to travel all the way to Kathmandu to register the company. They even need to visit Kathmandu for renewal. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">If someone has to spend Rs 100, 000 to register an industry worth Rs 500, 000, how will it help the environment for doing business? questioned Advocate Dr Rudra Sharma.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He argues that a conducive environment for doing business can be created if first and foremost the company registration process is decentralized and given to the local level.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Secondly, Sharma said that it will help a lot in creating a business environment if the laws and regulations made with the concept that lots of transactions will take place from the very first year after registration of the industry are changed.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">With this kind of mentality of the government, even the industry whose annual turnover is less than Rs 50,000 has to bear the burden of expenses by appointing an auditor.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that due to the requirement of appointing an auditor from the beginning, a small industry cannot bear the expenses and it will be forced to shut down within 2/3 years.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He expressed his view that the government should allow the companies with investment of Rs 500, 000 to 1 million the option to self-declare the company's business for the first 5 to 10 years.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-21', 'modified' => '2022-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '15574', 'image' => '20220821030331_Industrial-Policy.jpg', 'article_date' => '2022-08-21 15:01:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15832', 'article_category_id' => '1', 'title' => 'Preparation Underway for Direct Flights between Nepal and Myanmar', 'sub_title' => '', 'summary' => 'August 21: Myanmar's ambassador to Nepal, U Sein Oo informed that preparations are underway to start direct flights from Yangoon, Myanmar to the newly-built Gautam Buddha International Airport in Bhairahawa.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 21: Myanmar's ambassador to Nepal, U Sein Oo informed that preparations are underway to start direct flights from Yangoon, Myanmar to the newly-built Gautam Buddha International Airport in Bhairahawa. Ambassador Oo informed this while addressing the opening session of the 12th Annual General Assembly of the Nepal Myanmar Chamber of Commerce and Industries, adding that the Embassy of Myanmar in Kathmandu has already sent a proposal to the government in this regard. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“Since there is a harmonious relationship between the two countries at the citizen level, we are going to expand trade and economic relations between the two countries as well as establish air connectivity,” said the ambassador.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Speaking at the event, Nepal’s ambassador designate to Myanmar Harish Chandra Ghimire, said that there is a great potential for cultural, trade and linguistic exchange between these two countries. He added that Myanmar is acting as a bridge between SAARC and ASEAN countries. Referring the Nepalese in Myanmar as second biggest diaspora, Ghimire said that they can act as 'soft power' in the case of Nepal.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The president of the chamber, Shiva Kumar Agrawal requested the governments of both countries to work towards the establishment of direct air links for the promotion of bilateral trade, investment and tourism. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“We want to promote trade, investment and tourism between Nepal and Myanmar. Direct air connectivity is necessary for both countries to benefit from the potential of both sides,” said Agrawal. He also informed that the chamber is working to strengthen economic, cultural and citizen-level relations between the two countries.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The opening session of the General Assembly was addressed by Rajesh Agarwal, vice president of Confederation of Nepalese Industry, Sunil Kumar Bansal, president of Nepal Overseas Exporters Association, Lokmanya Golcha, outgoing dean of Consular Corps Nepal and others.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-21', 'modified' => '2022-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '15573', 'image' => '20220821021625_20220516125900_1652665732.jpg', 'article_date' => '2022-08-21 14:15:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">August 23: The business of multinational company Surya Nepal Pvt Ltd is increasing every year. The annual turnover of company in 2021 was about Rs 24.5 billion. The company, which has a large share in the cigarette trade of Nepal, did business worth Rs 24 billion 493 million during the review year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The company has a unique identity in the business world of Nepal. It did business worth Rs 24.47 billion in 2020 and Rs 25.13 billion in 2019. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the rating agency Care Rating Nepal, Surya Nepal earned a net profit of Rs 9.41 billion in 2021 and Rs 9.55 billion in 2020.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The company produces Surya brand cigarettes, matchsticks, incense sticks and chocolates. Currently, the company produces Surya Legend, Surya 24 Karat, Surya Luxury, Shikhar Filter Kings, Khukuri Filter, Pilot Filter, Electric Filter, and Chautari brand cigarettes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Sanjeev Puri, is the chairman of the company which is doing the most business among FMCG in Nepal. He is also the chairman of the Indian company ITC India Limited. ITC, which is run through joint investment of foreign and local businessmen of India, has 59 percent share in Surya Nepal, while 39 percent stakes are owned by Nepali companies and investors and 2 percent by British American Tobacco (Investment) Limited UK. Surya Nepal, which was established in 1986, has been among the top taxpayers of Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Surya Nepal has managed to remain in the top-ten list of taxpayers for a long. Care Rating has rated the company in A-One category.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Due to the lockdown imposed to contain the Covid-19 pandemic in the country and the increase in the price of raw materials, the company's business during that period was affected and the projected income shrunk. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Since Surya Nepal is not a public company, ordinary investors do not have any benefit or loss from its profit. However, the revenue received by the government, the employment created by the company and the contribution made to the Nepalese economy are important.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">There are other companies operating in Nepal with domestic and foreign investment as well. However, others have not achieved as much success as Surya Nepal. Foreign direct investment in companies in Nepal has been giving good returns due to the excellence in business by those companies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Lately, Surya Nepal is planning to invest in five-star hotels as part of its business expansion programme. The company has more than 100 distributors across the country. It has industries in Simra of Bara and Tanahun. The company is also involved in various social works under its corporate social responsibility as well.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-23', 'modified' => '2022-08-23', 'keywords' => '', 'description' => '', 'sortorder' => '15587', 'image' => '20220823011401_Company-HO1 - Copy.jpg', 'article_date' => '2022-08-23 13:13:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15845', 'article_category_id' => '1', 'title' => 'Govt Spent Rs 1.05 Billion for Industrial Village but Infrastructure not Yet Ready', 'sub_title' => '', 'summary' => 'August 23: The government has invested more than Rs 1 billion in four years since launching the concept of industrial villages to develop micro, domestic and small industries at the municipal level.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 23: The government has invested more than Rs 1 billion in four years since launching the concept of industrial villages to develop micro, domestic and small industries at the municipal level. Although the government has declared more than 105 industrial villages since the approval of the procedure in 2018, it has so far failed to build the required industrial infrastructure.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">This programme was officially started after the Council of Ministers approved the 'Industrial Village Declaration and Operation Procedure-2075' in March 2018. Since then, the Ministry of Industry, Commerce and Supplies has already spent Rs 1.05 billion in the first phase of setting up those industrial villages. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After the recommendation of the rural municipality to develop the industrial village up to the municipal level, the ministry provides a budget of Rs 10 million per industrial village. Accordingly, the investment has been made in that industrial villages so far.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">It has been four years since it was announced that the industrial villages would be built by mobilizing local resources, raw materials, technology and skills, but not a single village has been operational so far.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Chandrakala Paudel, joint secretary at the ministry, admitted that not a single industrial village has been completed so far. She clarified that it took a long time to set up the industrial village because the detailed project report and environmental impact assessment took more time than expected.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"There wasn’t any problem about land acquisition because the concept of industrial village concept based on government land," Poudel said, adding that some DPRs revealed that the cost estimate would be more than the allocated budget.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“We will assess the current delay and work to bring the industrial villages into operation as soon as possible,” she added. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government has announced the establishment of industrial villages in all 753 local units of the country. The work of infrastructure development for the industrial villages has not been able to pick up speed.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Poudel said that since the concept of creating industrial villages has already started and more than 100 villages have been announced, the focus will be on building industrial infrastructure from the current financial year. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">s</span></span></p> ', 'published' => true, 'created' => '2022-08-23', 'modified' => '2022-08-23', 'keywords' => '', 'description' => '', 'sortorder' => '15586', 'image' => '20220823121105_Industrial-Policy.jpg', 'article_date' => '2022-08-23 12:10:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15844', 'article_category_id' => '1', 'title' => 'Indian Passengers Overwhelmed by Janakpur-Jaynagar Railway Service', 'sub_title' => '', 'summary' => 'August 23: With the opening of Janakpur-Jayanagar railway service, it has become easier for Indian pilgrims to visit Nepal. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 23: With the opening of Janakpur-Jayanagar railway service, it has become easier for Indian pilgrims to visit Nepal. Since the train started running regularly from Kurtha of Nepal to Jayanagar of India, it has become easy for religious tourists as well as other passengers to travel in Nepal.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Prime Minister Sher Bahadur Deuba and Indian Prime Minister Narendra Modi had launched the cross-border train service virtually on April 2, 2022. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">India had completely stopped the train service since 2014 for the upgrading the railways. With the resumption of train services from April, it has become convenient for Indian tourists to visit Janaki Temple in Janakpur as well as Pashupatinath temple in Kathmandu. Passengers also say that the railway route has made it easy for them to travel. They say that the operation of the train has helped the transport service between India and Nepal has become organized.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Indian tourist Suman Bhiwa said that he felt happy visiting Nepal. He said that travelling has become much easier than it was before. Another Indian passenger, Sarita Kumari said that the operation of Nepal-India railway service has facilitated the passengers a lot. She requested to increase it further as the railway service only runs twice a day. She added that the cost of traveling by train has also decreased over time.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Train ticket seller Santu Kumar Yadav informed that the number of passengers is on the rise of late. He said that more trains should be added to handle the crowd of passengers. According to him, about 45 percent of passengers come from India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government issued the Railway Ordinance for the third time on March 22, 2022 to run the train. India handed over the railway to the Nepal Railway Company after extending the section towards Nepal to broad gauge and conducting a speed test.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">All the civil works for broad gauge expansion on the 34 km Janakpur-Jayanagar railway were completed four years ago. The government had announced to run trains on the Janakpur-Jayanagar route from January 2018. However, due to various reasons, it was not possible to run the train. However, with the re-operation of the train from April last year, it has become easier for Nepali and Indian citizens to travel.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-23', 'modified' => '2022-08-23', 'keywords' => '', 'description' => '', 'sortorder' => '15585', 'image' => '20220823112051_1661169484.NepaliRailway.jpg', 'article_date' => '2022-08-23 11:20:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15843', 'article_category_id' => '1', 'title' => 'Tourism Minister in Favour of Promoting Religious Tourism', 'sub_title' => '', 'summary' => 'August 23: Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha has stressed on the need to create a favourable environment for attracting religious tourists to Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">August 23: Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha has stressed on the need to create a favourable environment for attracting religious tourists to Nepal. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">He made such remark while inaugurating a museum in Pashupati area on Monday. On the occasion, Minister Shrestha pledged to do his best to create a favourable environment to bring in foreign pilgrims to Pashupatinath Temple. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">He said that the Pashupati Temple holds great significance among the Hindus around the world and many of them aspire to visit the temple once in their lifetime. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“The Pashupatinath Temple is the identity of our culture. Therefore, the Pashupati Area Development Trust needs to pay proper attention in facilitating the tourists who visit this holy shrine. It is also necessary to take care of the cleanliness and hygiene of the temple and the maintenance and renovation of the infrastructure,” said Minister Shrestha.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">He claimed that Nepal can promote religious tourism only if the country can preserve and promote its cultural heritage. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Minister Shrestha added that the government has included protection of cultural heritage in its 73-point plan for revitalizing the tourism sector. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“Preservation of cultural heritage can only ensure promotion of religious tourism,” said Minister Shrestha, adding, “It also contributes to the economy.”</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">He argued that promotion of tourism can help create employment opportunities within the country and help in realizing the dream of prosperous Nepal. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The museum, which was damaged by the mega earthquake of 2015, was renovated with the support from Nepal Investment Bank Limited. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-23', 'modified' => '2022-08-23', 'keywords' => '', 'description' => '', 'sortorder' => '15584', 'image' => '20220823101523_main-qimg-2a1ebd792ce31c2b5fb833af387014a0-lq.jpg', 'article_date' => '2022-08-23 10:14:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15842', 'article_category_id' => '1', 'title' => 'NEA signs MoU with Nepal Police for Operation of Charging Station', 'sub_title' => '', 'summary' => 'August 23: Nepal Electricity Authority (NEA) has signed a Memorandum of Understanding (MoU) with the Nepal Police (NP) for the construction and operation of charging stations for electric vehicles (EV). ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 23: Nepal Electricity Authority (NEA) has signed a Memorandum of Understanding (MoU) with the Nepal Police (NP) for the construction and operation of charging stations for electric vehicles (EV). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Inspector General of Nepal Police Dhiraj Pratap Singh and Nepal Electricity Authority's Executive Director Kulman Ghising signed the MoU amid a function on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Inspector General Singh, extending gratitude towards the NEA for the MoU, urged the NEA leadership for expanding charging stations in the police offices having huge workforce. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that Nepal Police had been collaborating with NEA in cases of theft and leakage of electricity, Singh assured that the Nepal Police was ever ready to give security to the charging stations to be built along the highways and hill areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Ghising shared that NEA was planning to build a charging station in every 60 kilometres in the highway and opined that the role of police was very important in this regard. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, collaborating with Nepal Police would be very important in addressing the security concerns of the charging stations and issues related to locating the right venue to build the charging stations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The MoU aims to promote usage of EV. The deal has been inked in the context of the environment, ecology and living creatures being affected by carbon emission from fossil-fuel powered vehicles as well as industries. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-23', 'modified' => '2022-08-23', 'keywords' => '', 'description' => '', 'sortorder' => '15583', 'image' => '20220823094530_EV.jpg', 'article_date' => '2022-08-23 09:44:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15841', 'article_category_id' => '1', 'title' => 'MoU with UK Opens New Avenue of Employment for Nepali Healthcare Professionals ', 'sub_title' => '', 'summary' => 'August 22: The government has signed a bilateral agreement with the UK with the aim to provide highly-paid jobs to Nepali youths in the UK.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 22: The government has signed a bilateral agreement with the UK with the aim to provide highly-paid jobs to Nepali youths in the UK.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Secretary at the Ministry of Labour, Employment and Social Security, Eaknarayan Aryal, and British Ambassador to Nepal, Nicola Pollitt signed the memorandum of understanding (MoU) to recruit Nepali healthcare professionals in the UK's health sector. The MoU was signed in presence of Minister for Labour, Employment and Social Welfare, Sher Bahadur Kunwar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The MoU has become a new milestone for Nepal in terms of diversifying employment destinations for the country’s youth. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The MoU has established Government to Government (G2G) bilateral agreement on fair and ethical recruitment of Nepali healthcare professionals to work in the UK's health sector. This pact is expected to encourage individuals seeking healthcare career and help strengthen the healthcare workforce in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Once selected, the Nepali healthcare professional will be provided the support required for them to be placed in the UK health system. They will also receive equal rights, privileges, protections and dignity as health professionals from the UK. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prior to this, the government has signed labour agreement with countries providing high remuneration including Israel, Japan and Mauritius. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Department of Foreign Employment of Nepal will work with the Department of Health and Social Care of the UK and its designated entity to undertake the recruitment process. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A joint press release issued after the programme reads, "An understanding has been reached to determine implementation protocol at the participation of government bodies of both countries in order to take the recruitment process to the conclusion." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">All the information related to recruitment process of health workers would be kept at Labour Ministry's website. Applicants, who fulfill the eligibility criteria, shall need to submit all required documents to the Department of Foreign Employment's online platform. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepali citizens aged between 20 and 45 years holding a valid Nepali passport, who have pursued Staff Nurse, Bachelors's Degree in Nursing (B Sc) or Bachelor of Nursing or Master's degree in Nursing from a recognized institution by the Government of Nepal can file application. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The applicant should have an active professional license from the Nepal Nursing Council and at least two years of experience in a registered hospital in Nepal. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-22', 'modified' => '2022-08-23', 'keywords' => '', 'description' => '', 'sortorder' => '15582', 'image' => '20220823093716_RS_KTM_IMGL626008222022.jpg', 'article_date' => '2022-08-22 18:21:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15840', 'article_category_id' => '1', 'title' => 'Goods Being Imported for Festive Season Stuck across the Northern Border', 'sub_title' => '', 'summary' => 'August 22: Tatopani and Rasuwagadhi customs, the major trade checkpoints in the north, will not be opened anytime soon. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">August 22: Tatopani and Rasuwagadhi customs, the major trade checkpoints in the north, will not be opened anytime soon. Both of these checkpoints have been closed since the last two weeks due to the extension of lockdown in Lhasa amid rise in coronavirus infection. Officials say that the border points with China will not be opened immediately.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the Nepali Consulate in Lhasa, China had announced a lockdown there until Sunday. However, the lockdown has been extended till Tuesday as the Covid patients are still seen and the tests have not been completed. China has not released any goods to Nepal for the last two weeks citing the reason of Covid-19. According to the Nepal Trans Himalayan Border Commerce Association, 400 containers carrying goods worth around Rs 5 billion have been currently stuck on the road across the border.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Bharat Karki, the owner of New Sugam Enterprises and general secretary of the association informed that around 350 to 400 containers are stopped at Kerung-Rasuwa and Khasa-Tatopani areas.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">His company imports goods from China. The stopped container contains items for Teej and Dashain festivals. "China has not allowed containers carrying clothes, shoes, Chinese walnuts to be brought to Nepal," he told New Business Age.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Karki informed citing Nepal’s Consul General in Lhasa, Navraj Dhakal, that the closure announced by the Chinese side is unlikely to be lifted immediately. "Goods worth billions of rupees have been stopped. We are asking the Consul General to take the initiative to open the border. However, he is saying that it is not going to open immediately,” said Karki.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The association is preparing to meet Minister for Industry, Commerce and Supplies Dilendra Prasad Badu and request him to take initiatives to ease the border obstruction. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Prabhu Adhikari, the owner of PNP Enterprises, says that the business has become chaotic due to the stoppage of goods during the festive season. According to him, due to the sudden closure of the northern border, the businessmen are facing double expenses and debt.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">"The situation has worsened as goods worth billions of rupees have been held up on the way," he said, "We are in trouble because the border has been closed on the eve of the festival." The government should take the initiative to resume imports, he added.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The Nepal National Federation of Entrepreneurs is of the view that traders are in trouble after goods were stopped at the Chinese border on the eve of Dashain. The federation has also requested the government to solve the problem at the border immediately through diplomatic initiatives. President of the Federation Kumar Karki said, “There has been a problem at Tatopani and Kerung checkpoints for some time. Imported materials are being stopped at the Chinese border. Exports have been stalled for a long time. The government should take the initiative to open it immediately.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to him, the goods intended for the festivals have been stopped at the Chinese border. If those goods do not arrive on time, the entire business is under risk of going bankrupt. If the border is not opened, there is a situation where many industrialists may flee from their businesses. Karki says that the government should start diplomatic initiatives as soon as possible to solve the problems seen at the border.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-22', 'modified' => '2022-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '15581', 'image' => '20220822061309_1661142938.Tatopani Naka.jpg', 'article_date' => '2022-08-22 18:12:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15838', 'article_category_id' => '1', 'title' => 'Counterfeit Shoes Helping in Promotion of Goldstar Brand', 'sub_title' => '', 'summary' => 'August 22: There is hardly any person who hasn’t heard about Hattichhap slippers and Goldstar shoes, which are used synonymously in the domestic market of Nepal.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 22: There is hardly any person who hasn’t heard about Hattichhap slippers and Goldstar shoes, which are used synonymously in the domestic market of Nepal.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Goldstar, known as the shoes of Nepali lifestyle, is now not limited to the choice of the old generation, but is also accepted as a fashionable brand by urban youth. Goldstar is now so popular that counterfeit brands using its logo are rampant in the market.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">During a conversation with New Business Age on Sunday, Amir Pratap Rana, chairman and managing director of Kiran Shoes Manufactures, the company that produces Hattichhap slippers and Goldstar shoes, said that even though counterfeit shoes have hit the market in the guise of Goldstar brand, the company's business is not affected that much. Rana says that the company did not have to spend much on branding because the brand is being promoted by of those who put the Goldstar stamp on the shoes brought from abroad.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Noor Pratap Rana of Palpa started this business from Hetauda, which is now handled by his son Amir Pratap and daughter-in-law Vidushi. The production of Hattichap slippers started in 1970. Due to political changes and labor strikes, the industry was brought from Hetauda to Kathmandu in 1985. Since the Hattichap slipper factory was set up in Ring Road, the entire stretch of two kilometers area from Narayan Gopal Showk in Maharajganj towards Chabahill is known as slipper factory (Chappal Karkhana). According to Rana, after moving the industry from Hetauda to Kathmandu, Kiran Shoes Manufacturers started producing shoes.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Goldstar is one of the latest items to be exported from Nepal. According to Rana, after Goldstar got a good market, some traders and shoe manufacturers started selling counterfeit Goldstar shoes to destroy the reputation of the company. Despite repeated attempts to tarnish the company's brand, original Goldstar's market remains good.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He says that many fake shoes have come in the market lately and the customers are being cheated. According to Rana, foreign brand shoes are also sold with fake stickers. The company is currently producing 100 million pairs of slippers and Goldstar shoes daily. In Bhairahawa, seven bighas of land have been bought and a production plant is being set up. The plant will be operational shortly after. While expanding the business, the company opened showrooms and outlets in different districts and franchises in America and Australia.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company's products are exported to India, Qatar, Bahrain, Japan, Malaysia and other countries. The company provides direct employment to 2700 people, among whom 65 percent are women.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After Covid-19, the company also started producing leather shoes. Rana said that the company's goal is to increase production and export to all countries of the world by 2025, despite the decline in production due to problems in importing raw materials during the earthquake and Covid-19. Indians are also excited about the Goldstar brand for the past few years. Currently, the company exports about 75 percent of its total production to India besides other countries.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Rana sees the need for industry-friendly policies and laws to run industries and businesses in the country. He suggested that the government should cooperate with the private sector. Rana, who is also the chairman of Kumari Bank, said that he is moving ahead in a planned manner, seeing the good future of attractive, durable, affordable footwear in Nepal and abroad.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that since long-term thinking and investment are necessary to run industries and businesses, he is also considering the issue of initial public offering (IPO).</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-22', 'modified' => '2022-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '15580', 'image' => '20220822012338_20211012093138_Goldstar.jpg', 'article_date' => '2022-08-22 13:22:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15836', 'article_category_id' => '1', 'title' => 'Bank Deposits Decline in First Month of Current Fiscal Year', 'sub_title' => '', 'summary' => 'August 22: Bank deposits declined by more than Rs 100 billion in the first month of the current fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 22: Bank deposits declined by more than Rs 100 billion in the first month of the current fiscal year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Nepal Bankers Association, the total deposits of commercial banks in the last month of Fiscal Year 2021/22 stood at Rs 4541 billion, which dropped to Rs 4433 billion due to withdrawal of Rs 108 billion in the Nepali month of Shrawn (mid-July to mid-August).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bank deposits had increased by Rs 150 billion in the month of Asar (mid-June to mid-July) but the deposits started declining continually the very next month. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bank deposits declined by Rs 64 billion in the third week of July followed by withdrawal of Rs 28 billion in the third week. Likewise, bank deposits declined by Rs 4 billion in the first week of August and by Rs 25 billion in the second week followed by a decline of 13 billion the next week.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal Rastra Bank’s Spokesperson Dr Gunakar Bhatta believes that the bank deposits declined in the review month because the state-owned Nepal Oil Corporation paid its long-standing debt to the Indian Oil Corporation during the beginning of the new fiscal year and the construction companies also withdrew the amount deposited in their names by the government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bhatta believes that the amount will slowly return back to the banking system.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NOC had borrowed Rs 16 billion from the government and paid its dues to the IOC in the third week of July.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The central bank also estimates that the bank deposits declined in the first month of the current fiscal year because the unspent budget of the local levels were returned back to the state coffers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although the bank deposits declined, credit flow of banks have increased nominally during the review period.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The total credit flow of banks in the last month of FY 2021/22 was Rs 4175 billion which increased to Rs 4177 billion by mid-August.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-22', 'modified' => '2022-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '15579', 'image' => '20220822091844_Banks - Copy.jpg', 'article_date' => '2022-08-22 09:17:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15837', 'article_category_id' => '1', 'title' => 'Field Survey of Raxaul-Kathmandu Railway within 2022', 'sub_title' => '', 'summary' => 'August 22: The field survey of Raxaul-Kathmandu railway is likely to be completed soon. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">August 22: The field survey of Raxaul-Kathmandu railway is likely to be completed soon. By next December, the Konkan Railway team of India will submit the final report of the project along with the DPR and other test reports to the Government of India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">The study of this railway is being done with the grant of the Government of India. Indian newspaper Prabhat Khabar has published the news that the construction of this railway is likely to start within the year 2023 after completion of all pre-construction studies.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">Studies have shown that a train can run at a speed of 120 kilometers per hour on this route. According to the survey team, the Raxaul-Kathmandu Railway will be 140 km long. It is mentioned in the news that the last 40 km section will be electrified with double track. Similarly, it has been reported that a single line broad gauge from Raxaul extending up to 99 kilometers will be electrified. The last 40 kilometers ie the section towards Kathmandu will be built on a double track due to the geographical location. In order to avoid problems in the future, it is being tried to make the section on a double track. As the remaining 99 km will be in the Terai section, it will be easy to make the track.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">The team of Konkan Railway is currently undertaking the final survey from Raxaul to Kathmandu. Along with the field survey, the team is also conducting soil tests at the places where bridges and tunnels are to be built. It is mentioned in the news published by Prabhat Khabar that the Government of Nepal, the Indian Consulate and locals are assisting the survey team.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">According to the survey team, 12 stations will be built on this railway from Raxaul to Kathmandu. Railway stations will be built in Raxaul, Birgunj, Belwa, Manharwa, Saphi Bazar, Nijgadh, Makwanpur, Diyal, Shikharpur, Sahitakhel, Sisneri and Kathmandu.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">According to the preliminary reports, a total of 33 tunnels will have to be built along the railway line. The survey team has informed that the longest tunnel will be of 8 kilometers. In addition, 305 small bridges will have to be built between Raxaul and Kathmandu, including an 800-meter long cable bridge. The longest bridge of the railway will be 1,500 meters. Forty seven kilometers away from Raxaul, the railway will be built in forest and hill areas.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">In the year 2077, the Government of Nepal had requested the Indian government to prepare a detailed project report (DPR) of this railway, but the survey was stopped due to the coronavirus pandemic. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">From the current survey, it will be known what kind of train can be run, and at which point the main structures like tunnels, bridges and stations should be built.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">In August 2075, an agreement was reached between the governments of Nepal and India to conduct the feasibility study of this railway. Similarly, an agreement was signed with China in October 2076 to study the feasibility of the Kerung-Kathmandu railway.</span></span></p> ', 'published' => true, 'created' => '2022-08-22', 'modified' => '2022-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '15578', 'image' => '20220822093824_1661070546.jpg', 'article_date' => '2022-08-22 09:37:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15839', 'article_category_id' => '1', 'title' => 'Nepal and UK Sign Labour Pact ', 'sub_title' => '', 'summary' => 'August 22: The Government of Nepal has signed a memorandum of understanding (MoU) with the United Kingdom to send medical human resources to the UK. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 22: The Government of Nepal has signed a memorandum of understanding (MoU) with the United Kingdom to send medical human resources to the UK. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Secretary at the Ministry of Labour, Employment and Social Security, Ek Narayan Aryal and British Ambassador to Nepal, Nicola Pollitt signed the MoU amidst a programme held at the ministry on Monday, August 22. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the MoU, human resources of medical background from Nepal will get employment opportunities in the UK. The nurses going to the UK for employment need not pay any fees, the ministry informed. According to the agreement, nurses from Nepal can work in the UK for five years. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-22', 'modified' => '2022-08-23', 'keywords' => '', 'description' => '', 'sortorder' => '15577', 'image' => '20220822030755_Flag-Pins-Nepal-Great-Britain_600x600.jpg', 'article_date' => '2022-08-22 15:07:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15835', 'article_category_id' => '1', 'title' => 'NEA Exports Energy worth Around Rs 2 Billion to India in First Month of Current FY ', 'sub_title' => '', 'summary' => 'August 21: Nepal Electricity Authority (NEA) exported electricity worth around Rs 2 billion to neighbouring India in the first month of the current fiscal year (FY 2022/23) beginning from July 17, 2022. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 21: Nepal Electricity Authority (NEA) exported electricity worth around Rs 2 billion to neighbouring India in the first month of the current fiscal year (FY 2022/23) beginning from July 17, 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NEA, the state-owned producer and distributor of electricity in Nepal, traded surplus power of over 242 million units worth Rs 1.83 billion to India where power demand in monsoon is higher, NEA said. Currently, NEA is effortful to export additional 111 megawatts of electricity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">While it earned a total Rs 16.1 billion in profits from the sale of electricity in the previous fiscal year, 2021/22, the average profit from power export stood at Rs 59 million a day in the first month of the current fiscal year or the Nepali month of Shrawan (mid-July to mid-August). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NEA started trading surplus energy from monsoon on the Day-Ahead Market of the Indian Energy Exchange Limited (IEX) since June 2, 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the first phase, 39 megawatts of electricity generated from two power houses was traded with the IEX. Thereafter, 364 megawatts of electricity generated by six different power houses in the country was traded since June 10, 2022 on a daily basis at competitive rates. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Power exports took place through the 400 kV Dhalkebar-Muzaffarpur transmission line. In the previous FY, the NEA exported power worth Rs 3.8 billion. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-21', 'modified' => '2022-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '15576', 'image' => '20220821081848_NEA.jpg', 'article_date' => '2022-08-21 20:18:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15834', 'article_category_id' => '1', 'title' => '‘Cement Export has Good Potential with Government Support’', 'sub_title' => '', 'summary' => 'August 21: Pashupati Murarka, former president of the Federation of Nepalese Chamber of Commerce and Industry and the director of Murarka Group has said that since Nepal is an underdeveloped country, there is a lot of potential for expansion of industries.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 21: Pashupati Murarka, former president of the Federation of Nepalese Chamber of Commerce and Industry and the director of Murarka Group has said that since Nepal is an underdeveloped country, there is a lot of potential for expansion of industries. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">During an interview with New Business Age, he shared that the country has failed to reduce trade deficit which it could have done through increasing domestic production.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Murarka argued that since the country has become self-sufficient in cement even in such dire situation of trade deficit, the government should work to export cement as soon as possible. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He added that even after two months of announcing the budget for the current fiscal year, the government has not been able to implement the process of providing subsidy for cement export.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Murarka said that it is not easy to export cement from Nepal due to high cost of transportation and lack of adequate electricity. According to him, the country's trade deficit can be reduced to some extent by exporting cement if the government facilitates it. However, for that, the government should create an environment through policy reforms as only half of the cement produced in the country is consumed in Nepal while India can be a destination with great potential for cement export. As per him, if taxes are reduced, concessions are given in electricity tariff and export subsidies are given, Nepal's trade deficit can be reduced through export of cement. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">India's Uttar Pradesh and Bihar can be good markets for Nepal's cement. He says that domestic cement industries are not running at their full capacity as they are unable in find the export market.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that limestone, the raw material used in the cement industry, can be found locally. But the market is small, so the government should facilitate the expansion of the market in India as Nepal has already invested heavily in the cement industry in a short period of time, says Murarka. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In the past, some industries which imported clinker from abroad are now producing clinker by themselves.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Murarka also said that the private sector is facing problems due to lack of long-term vision of the government. He complained that there are various obstacles in the development of the Nepal’s economy and the industrialists are still forced to face tax-related legal troubles.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Murarka said that he got involved in business without studying. His father rose to the top by running a cloth and rice business in Lahan. He was expert at accounting at a young age and expanded his father's traditional business and now operates more than 15 businesses under the Murarka Group. He says that Murarka Group stood on the foundation built by his grandfather and father with hard work.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Murarka Group, which is doing business in Biratnagar, Nepalganj, Bhairahawa and other areas, has its own history in business travel in Nepal. About 80 years ago, Murarka Group, which started from rice and cloth business, has now expanded its investment in insurance and banking sector as well as steel, cement, paints, refined oil, hydropower, automobiles, mobile phone industries etc. Murarka Group is operating Arghakhanchi cement plant in Bhairahawa with a capacity to produce 3,000 tons of cement per day. Nepal Hydro with a capacity of 4 megawatts and Modi Hydropower with a capacity of 20 megawatts are being constructed with investment from this group as well.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The group, which believes that it should invest only in areas where profits are guaranteed, is planning to expand its investment in various areas in the future, even though business expansion has been hindered due to lack of liquidity.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-21', 'modified' => '2022-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '15575', 'image' => '20220821032755_1661066193.jpg', 'article_date' => '2022-08-21 15:27:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15833', 'article_category_id' => '1', 'title' => 'Companies Act Hampering Business Environment', 'sub_title' => '', 'summary' => 'August 21: Delay in the services provided by the Company Registrar's Office is not a new issue.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">August 21: Delay in the services provided by the Company Registrar's Office is not a new issue. However, no one seems to be paying attention to the fact that the Company Registration Act is deteriorating business environment.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Individuals wanting to start an industry in Darchula in the far west with an investment of Rs 500,000 have to travel all the way to Kathmandu to register the company. They even need to visit Kathmandu for renewal. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">If someone has to spend Rs 100, 000 to register an industry worth Rs 500, 000, how will it help the environment for doing business? questioned Advocate Dr Rudra Sharma.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He argues that a conducive environment for doing business can be created if first and foremost the company registration process is decentralized and given to the local level.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Secondly, Sharma said that it will help a lot in creating a business environment if the laws and regulations made with the concept that lots of transactions will take place from the very first year after registration of the industry are changed.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">With this kind of mentality of the government, even the industry whose annual turnover is less than Rs 50,000 has to bear the burden of expenses by appointing an auditor.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that due to the requirement of appointing an auditor from the beginning, a small industry cannot bear the expenses and it will be forced to shut down within 2/3 years.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He expressed his view that the government should allow the companies with investment of Rs 500, 000 to 1 million the option to self-declare the company's business for the first 5 to 10 years.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-21', 'modified' => '2022-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '15574', 'image' => '20220821030331_Industrial-Policy.jpg', 'article_date' => '2022-08-21 15:01:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15832', 'article_category_id' => '1', 'title' => 'Preparation Underway for Direct Flights between Nepal and Myanmar', 'sub_title' => '', 'summary' => 'August 21: Myanmar's ambassador to Nepal, U Sein Oo informed that preparations are underway to start direct flights from Yangoon, Myanmar to the newly-built Gautam Buddha International Airport in Bhairahawa.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 21: Myanmar's ambassador to Nepal, U Sein Oo informed that preparations are underway to start direct flights from Yangoon, Myanmar to the newly-built Gautam Buddha International Airport in Bhairahawa. Ambassador Oo informed this while addressing the opening session of the 12th Annual General Assembly of the Nepal Myanmar Chamber of Commerce and Industries, adding that the Embassy of Myanmar in Kathmandu has already sent a proposal to the government in this regard. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“Since there is a harmonious relationship between the two countries at the citizen level, we are going to expand trade and economic relations between the two countries as well as establish air connectivity,” said the ambassador.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Speaking at the event, Nepal’s ambassador designate to Myanmar Harish Chandra Ghimire, said that there is a great potential for cultural, trade and linguistic exchange between these two countries. He added that Myanmar is acting as a bridge between SAARC and ASEAN countries. Referring the Nepalese in Myanmar as second biggest diaspora, Ghimire said that they can act as 'soft power' in the case of Nepal.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The president of the chamber, Shiva Kumar Agrawal requested the governments of both countries to work towards the establishment of direct air links for the promotion of bilateral trade, investment and tourism. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“We want to promote trade, investment and tourism between Nepal and Myanmar. Direct air connectivity is necessary for both countries to benefit from the potential of both sides,” said Agrawal. He also informed that the chamber is working to strengthen economic, cultural and citizen-level relations between the two countries.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The opening session of the General Assembly was addressed by Rajesh Agarwal, vice president of Confederation of Nepalese Industry, Sunil Kumar Bansal, president of Nepal Overseas Exporters Association, Lokmanya Golcha, outgoing dean of Consular Corps Nepal and others.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-21', 'modified' => '2022-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '15573', 'image' => '20220821021625_20220516125900_1652665732.jpg', 'article_date' => '2022-08-21 14:15:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '15846', 'article_category_id' => '1', 'title' => 'Surya Nepal's Annual Turnover is Rs 24 Billion', 'sub_title' => '', 'summary' => 'August 23: The business of multinational company Surya Nepal Pvt Ltd is increasing every year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">August 23: The business of multinational company Surya Nepal Pvt Ltd is increasing every year. The annual turnover of company in 2021 was about Rs 24.5 billion. The company, which has a large share in the cigarette trade of Nepal, did business worth Rs 24 billion 493 million during the review year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The company has a unique identity in the business world of Nepal. It did business worth Rs 24.47 billion in 2020 and Rs 25.13 billion in 2019. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the rating agency Care Rating Nepal, Surya Nepal earned a net profit of Rs 9.41 billion in 2021 and Rs 9.55 billion in 2020.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The company produces Surya brand cigarettes, matchsticks, incense sticks and chocolates. Currently, the company produces Surya Legend, Surya 24 Karat, Surya Luxury, Shikhar Filter Kings, Khukuri Filter, Pilot Filter, Electric Filter, and Chautari brand cigarettes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Sanjeev Puri, is the chairman of the company which is doing the most business among FMCG in Nepal. He is also the chairman of the Indian company ITC India Limited. ITC, which is run through joint investment of foreign and local businessmen of India, has 59 percent share in Surya Nepal, while 39 percent stakes are owned by Nepali companies and investors and 2 percent by British American Tobacco (Investment) Limited UK. Surya Nepal, which was established in 1986, has been among the top taxpayers of Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Surya Nepal has managed to remain in the top-ten list of taxpayers for a long. Care Rating has rated the company in A-One category.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Due to the lockdown imposed to contain the Covid-19 pandemic in the country and the increase in the price of raw materials, the company's business during that period was affected and the projected income shrunk. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Since Surya Nepal is not a public company, ordinary investors do not have any benefit or loss from its profit. However, the revenue received by the government, the employment created by the company and the contribution made to the Nepalese economy are important.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">There are other companies operating in Nepal with domestic and foreign investment as well. However, others have not achieved as much success as Surya Nepal. Foreign direct investment in companies in Nepal has been giving good returns due to the excellence in business by those companies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Lately, Surya Nepal is planning to invest in five-star hotels as part of its business expansion programme. The company has more than 100 distributors across the country. It has industries in Simra of Bara and Tanahun. The company is also involved in various social works under its corporate social responsibility as well.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-23', 'modified' => '2022-08-23', 'keywords' => '', 'description' => '', 'sortorder' => '15587', 'image' => '20220823011401_Company-HO1 - Copy.jpg', 'article_date' => '2022-08-23 13:13:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15845', 'article_category_id' => '1', 'title' => 'Govt Spent Rs 1.05 Billion for Industrial Village but Infrastructure not Yet Ready', 'sub_title' => '', 'summary' => 'August 23: The government has invested more than Rs 1 billion in four years since launching the concept of industrial villages to develop micro, domestic and small industries at the municipal level.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 23: The government has invested more than Rs 1 billion in four years since launching the concept of industrial villages to develop micro, domestic and small industries at the municipal level. Although the government has declared more than 105 industrial villages since the approval of the procedure in 2018, it has so far failed to build the required industrial infrastructure.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">This programme was officially started after the Council of Ministers approved the 'Industrial Village Declaration and Operation Procedure-2075' in March 2018. Since then, the Ministry of Industry, Commerce and Supplies has already spent Rs 1.05 billion in the first phase of setting up those industrial villages. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After the recommendation of the rural municipality to develop the industrial village up to the municipal level, the ministry provides a budget of Rs 10 million per industrial village. Accordingly, the investment has been made in that industrial villages so far.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">It has been four years since it was announced that the industrial villages would be built by mobilizing local resources, raw materials, technology and skills, but not a single village has been operational so far.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Chandrakala Paudel, joint secretary at the ministry, admitted that not a single industrial village has been completed so far. She clarified that it took a long time to set up the industrial village because the detailed project report and environmental impact assessment took more time than expected.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"There wasn’t any problem about land acquisition because the concept of industrial village concept based on government land," Poudel said, adding that some DPRs revealed that the cost estimate would be more than the allocated budget.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“We will assess the current delay and work to bring the industrial villages into operation as soon as possible,” she added. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government has announced the establishment of industrial villages in all 753 local units of the country. The work of infrastructure development for the industrial villages has not been able to pick up speed.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Poudel said that since the concept of creating industrial villages has already started and more than 100 villages have been announced, the focus will be on building industrial infrastructure from the current financial year. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">s</span></span></p> ', 'published' => true, 'created' => '2022-08-23', 'modified' => '2022-08-23', 'keywords' => '', 'description' => '', 'sortorder' => '15586', 'image' => '20220823121105_Industrial-Policy.jpg', 'article_date' => '2022-08-23 12:10:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15844', 'article_category_id' => '1', 'title' => 'Indian Passengers Overwhelmed by Janakpur-Jaynagar Railway Service', 'sub_title' => '', 'summary' => 'August 23: With the opening of Janakpur-Jayanagar railway service, it has become easier for Indian pilgrims to visit Nepal. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 23: With the opening of Janakpur-Jayanagar railway service, it has become easier for Indian pilgrims to visit Nepal. Since the train started running regularly from Kurtha of Nepal to Jayanagar of India, it has become easy for religious tourists as well as other passengers to travel in Nepal.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Prime Minister Sher Bahadur Deuba and Indian Prime Minister Narendra Modi had launched the cross-border train service virtually on April 2, 2022. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">India had completely stopped the train service since 2014 for the upgrading the railways. With the resumption of train services from April, it has become convenient for Indian tourists to visit Janaki Temple in Janakpur as well as Pashupatinath temple in Kathmandu. Passengers also say that the railway route has made it easy for them to travel. They say that the operation of the train has helped the transport service between India and Nepal has become organized.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Indian tourist Suman Bhiwa said that he felt happy visiting Nepal. He said that travelling has become much easier than it was before. Another Indian passenger, Sarita Kumari said that the operation of Nepal-India railway service has facilitated the passengers a lot. She requested to increase it further as the railway service only runs twice a day. She added that the cost of traveling by train has also decreased over time.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Train ticket seller Santu Kumar Yadav informed that the number of passengers is on the rise of late. He said that more trains should be added to handle the crowd of passengers. According to him, about 45 percent of passengers come from India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government issued the Railway Ordinance for the third time on March 22, 2022 to run the train. India handed over the railway to the Nepal Railway Company after extending the section towards Nepal to broad gauge and conducting a speed test.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">All the civil works for broad gauge expansion on the 34 km Janakpur-Jayanagar railway were completed four years ago. The government had announced to run trains on the Janakpur-Jayanagar route from January 2018. However, due to various reasons, it was not possible to run the train. However, with the re-operation of the train from April last year, it has become easier for Nepali and Indian citizens to travel.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-23', 'modified' => '2022-08-23', 'keywords' => '', 'description' => '', 'sortorder' => '15585', 'image' => '20220823112051_1661169484.NepaliRailway.jpg', 'article_date' => '2022-08-23 11:20:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15843', 'article_category_id' => '1', 'title' => 'Tourism Minister in Favour of Promoting Religious Tourism', 'sub_title' => '', 'summary' => 'August 23: Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha has stressed on the need to create a favourable environment for attracting religious tourists to Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">August 23: Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha has stressed on the need to create a favourable environment for attracting religious tourists to Nepal. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">He made such remark while inaugurating a museum in Pashupati area on Monday. On the occasion, Minister Shrestha pledged to do his best to create a favourable environment to bring in foreign pilgrims to Pashupatinath Temple. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">He said that the Pashupati Temple holds great significance among the Hindus around the world and many of them aspire to visit the temple once in their lifetime. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“The Pashupatinath Temple is the identity of our culture. Therefore, the Pashupati Area Development Trust needs to pay proper attention in facilitating the tourists who visit this holy shrine. It is also necessary to take care of the cleanliness and hygiene of the temple and the maintenance and renovation of the infrastructure,” said Minister Shrestha.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">He claimed that Nepal can promote religious tourism only if the country can preserve and promote its cultural heritage. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Minister Shrestha added that the government has included protection of cultural heritage in its 73-point plan for revitalizing the tourism sector. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“Preservation of cultural heritage can only ensure promotion of religious tourism,” said Minister Shrestha, adding, “It also contributes to the economy.”</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">He argued that promotion of tourism can help create employment opportunities within the country and help in realizing the dream of prosperous Nepal. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The museum, which was damaged by the mega earthquake of 2015, was renovated with the support from Nepal Investment Bank Limited. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-23', 'modified' => '2022-08-23', 'keywords' => '', 'description' => '', 'sortorder' => '15584', 'image' => '20220823101523_main-qimg-2a1ebd792ce31c2b5fb833af387014a0-lq.jpg', 'article_date' => '2022-08-23 10:14:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15842', 'article_category_id' => '1', 'title' => 'NEA signs MoU with Nepal Police for Operation of Charging Station', 'sub_title' => '', 'summary' => 'August 23: Nepal Electricity Authority (NEA) has signed a Memorandum of Understanding (MoU) with the Nepal Police (NP) for the construction and operation of charging stations for electric vehicles (EV). ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 23: Nepal Electricity Authority (NEA) has signed a Memorandum of Understanding (MoU) with the Nepal Police (NP) for the construction and operation of charging stations for electric vehicles (EV). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Inspector General of Nepal Police Dhiraj Pratap Singh and Nepal Electricity Authority's Executive Director Kulman Ghising signed the MoU amid a function on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Inspector General Singh, extending gratitude towards the NEA for the MoU, urged the NEA leadership for expanding charging stations in the police offices having huge workforce. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that Nepal Police had been collaborating with NEA in cases of theft and leakage of electricity, Singh assured that the Nepal Police was ever ready to give security to the charging stations to be built along the highways and hill areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Ghising shared that NEA was planning to build a charging station in every 60 kilometres in the highway and opined that the role of police was very important in this regard. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, collaborating with Nepal Police would be very important in addressing the security concerns of the charging stations and issues related to locating the right venue to build the charging stations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The MoU aims to promote usage of EV. The deal has been inked in the context of the environment, ecology and living creatures being affected by carbon emission from fossil-fuel powered vehicles as well as industries. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-23', 'modified' => '2022-08-23', 'keywords' => '', 'description' => '', 'sortorder' => '15583', 'image' => '20220823094530_EV.jpg', 'article_date' => '2022-08-23 09:44:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15841', 'article_category_id' => '1', 'title' => 'MoU with UK Opens New Avenue of Employment for Nepali Healthcare Professionals ', 'sub_title' => '', 'summary' => 'August 22: The government has signed a bilateral agreement with the UK with the aim to provide highly-paid jobs to Nepali youths in the UK.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 22: The government has signed a bilateral agreement with the UK with the aim to provide highly-paid jobs to Nepali youths in the UK.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Secretary at the Ministry of Labour, Employment and Social Security, Eaknarayan Aryal, and British Ambassador to Nepal, Nicola Pollitt signed the memorandum of understanding (MoU) to recruit Nepali healthcare professionals in the UK's health sector. The MoU was signed in presence of Minister for Labour, Employment and Social Welfare, Sher Bahadur Kunwar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The MoU has become a new milestone for Nepal in terms of diversifying employment destinations for the country’s youth. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The MoU has established Government to Government (G2G) bilateral agreement on fair and ethical recruitment of Nepali healthcare professionals to work in the UK's health sector. This pact is expected to encourage individuals seeking healthcare career and help strengthen the healthcare workforce in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Once selected, the Nepali healthcare professional will be provided the support required for them to be placed in the UK health system. They will also receive equal rights, privileges, protections and dignity as health professionals from the UK. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prior to this, the government has signed labour agreement with countries providing high remuneration including Israel, Japan and Mauritius. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Department of Foreign Employment of Nepal will work with the Department of Health and Social Care of the UK and its designated entity to undertake the recruitment process. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A joint press release issued after the programme reads, "An understanding has been reached to determine implementation protocol at the participation of government bodies of both countries in order to take the recruitment process to the conclusion." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">All the information related to recruitment process of health workers would be kept at Labour Ministry's website. Applicants, who fulfill the eligibility criteria, shall need to submit all required documents to the Department of Foreign Employment's online platform. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepali citizens aged between 20 and 45 years holding a valid Nepali passport, who have pursued Staff Nurse, Bachelors's Degree in Nursing (B Sc) or Bachelor of Nursing or Master's degree in Nursing from a recognized institution by the Government of Nepal can file application. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The applicant should have an active professional license from the Nepal Nursing Council and at least two years of experience in a registered hospital in Nepal. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-22', 'modified' => '2022-08-23', 'keywords' => '', 'description' => '', 'sortorder' => '15582', 'image' => '20220823093716_RS_KTM_IMGL626008222022.jpg', 'article_date' => '2022-08-22 18:21:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15840', 'article_category_id' => '1', 'title' => 'Goods Being Imported for Festive Season Stuck across the Northern Border', 'sub_title' => '', 'summary' => 'August 22: Tatopani and Rasuwagadhi customs, the major trade checkpoints in the north, will not be opened anytime soon. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">August 22: Tatopani and Rasuwagadhi customs, the major trade checkpoints in the north, will not be opened anytime soon. Both of these checkpoints have been closed since the last two weeks due to the extension of lockdown in Lhasa amid rise in coronavirus infection. Officials say that the border points with China will not be opened immediately.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the Nepali Consulate in Lhasa, China had announced a lockdown there until Sunday. However, the lockdown has been extended till Tuesday as the Covid patients are still seen and the tests have not been completed. China has not released any goods to Nepal for the last two weeks citing the reason of Covid-19. According to the Nepal Trans Himalayan Border Commerce Association, 400 containers carrying goods worth around Rs 5 billion have been currently stuck on the road across the border.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Bharat Karki, the owner of New Sugam Enterprises and general secretary of the association informed that around 350 to 400 containers are stopped at Kerung-Rasuwa and Khasa-Tatopani areas.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">His company imports goods from China. The stopped container contains items for Teej and Dashain festivals. "China has not allowed containers carrying clothes, shoes, Chinese walnuts to be brought to Nepal," he told New Business Age.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Karki informed citing Nepal’s Consul General in Lhasa, Navraj Dhakal, that the closure announced by the Chinese side is unlikely to be lifted immediately. "Goods worth billions of rupees have been stopped. We are asking the Consul General to take the initiative to open the border. However, he is saying that it is not going to open immediately,” said Karki.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The association is preparing to meet Minister for Industry, Commerce and Supplies Dilendra Prasad Badu and request him to take initiatives to ease the border obstruction. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Prabhu Adhikari, the owner of PNP Enterprises, says that the business has become chaotic due to the stoppage of goods during the festive season. According to him, due to the sudden closure of the northern border, the businessmen are facing double expenses and debt.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">"The situation has worsened as goods worth billions of rupees have been held up on the way," he said, "We are in trouble because the border has been closed on the eve of the festival." The government should take the initiative to resume imports, he added.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The Nepal National Federation of Entrepreneurs is of the view that traders are in trouble after goods were stopped at the Chinese border on the eve of Dashain. The federation has also requested the government to solve the problem at the border immediately through diplomatic initiatives. President of the Federation Kumar Karki said, “There has been a problem at Tatopani and Kerung checkpoints for some time. Imported materials are being stopped at the Chinese border. Exports have been stalled for a long time. The government should take the initiative to open it immediately.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to him, the goods intended for the festivals have been stopped at the Chinese border. If those goods do not arrive on time, the entire business is under risk of going bankrupt. If the border is not opened, there is a situation where many industrialists may flee from their businesses. Karki says that the government should start diplomatic initiatives as soon as possible to solve the problems seen at the border.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-22', 'modified' => '2022-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '15581', 'image' => '20220822061309_1661142938.Tatopani Naka.jpg', 'article_date' => '2022-08-22 18:12:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15838', 'article_category_id' => '1', 'title' => 'Counterfeit Shoes Helping in Promotion of Goldstar Brand', 'sub_title' => '', 'summary' => 'August 22: There is hardly any person who hasn’t heard about Hattichhap slippers and Goldstar shoes, which are used synonymously in the domestic market of Nepal.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 22: There is hardly any person who hasn’t heard about Hattichhap slippers and Goldstar shoes, which are used synonymously in the domestic market of Nepal.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Goldstar, known as the shoes of Nepali lifestyle, is now not limited to the choice of the old generation, but is also accepted as a fashionable brand by urban youth. Goldstar is now so popular that counterfeit brands using its logo are rampant in the market.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">During a conversation with New Business Age on Sunday, Amir Pratap Rana, chairman and managing director of Kiran Shoes Manufactures, the company that produces Hattichhap slippers and Goldstar shoes, said that even though counterfeit shoes have hit the market in the guise of Goldstar brand, the company's business is not affected that much. Rana says that the company did not have to spend much on branding because the brand is being promoted by of those who put the Goldstar stamp on the shoes brought from abroad.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Noor Pratap Rana of Palpa started this business from Hetauda, which is now handled by his son Amir Pratap and daughter-in-law Vidushi. The production of Hattichap slippers started in 1970. Due to political changes and labor strikes, the industry was brought from Hetauda to Kathmandu in 1985. Since the Hattichap slipper factory was set up in Ring Road, the entire stretch of two kilometers area from Narayan Gopal Showk in Maharajganj towards Chabahill is known as slipper factory (Chappal Karkhana). According to Rana, after moving the industry from Hetauda to Kathmandu, Kiran Shoes Manufacturers started producing shoes.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Goldstar is one of the latest items to be exported from Nepal. According to Rana, after Goldstar got a good market, some traders and shoe manufacturers started selling counterfeit Goldstar shoes to destroy the reputation of the company. Despite repeated attempts to tarnish the company's brand, original Goldstar's market remains good.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He says that many fake shoes have come in the market lately and the customers are being cheated. According to Rana, foreign brand shoes are also sold with fake stickers. The company is currently producing 100 million pairs of slippers and Goldstar shoes daily. In Bhairahawa, seven bighas of land have been bought and a production plant is being set up. The plant will be operational shortly after. While expanding the business, the company opened showrooms and outlets in different districts and franchises in America and Australia.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company's products are exported to India, Qatar, Bahrain, Japan, Malaysia and other countries. The company provides direct employment to 2700 people, among whom 65 percent are women.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After Covid-19, the company also started producing leather shoes. Rana said that the company's goal is to increase production and export to all countries of the world by 2025, despite the decline in production due to problems in importing raw materials during the earthquake and Covid-19. Indians are also excited about the Goldstar brand for the past few years. Currently, the company exports about 75 percent of its total production to India besides other countries.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Rana sees the need for industry-friendly policies and laws to run industries and businesses in the country. He suggested that the government should cooperate with the private sector. Rana, who is also the chairman of Kumari Bank, said that he is moving ahead in a planned manner, seeing the good future of attractive, durable, affordable footwear in Nepal and abroad.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that since long-term thinking and investment are necessary to run industries and businesses, he is also considering the issue of initial public offering (IPO).</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-22', 'modified' => '2022-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '15580', 'image' => '20220822012338_20211012093138_Goldstar.jpg', 'article_date' => '2022-08-22 13:22:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15836', 'article_category_id' => '1', 'title' => 'Bank Deposits Decline in First Month of Current Fiscal Year', 'sub_title' => '', 'summary' => 'August 22: Bank deposits declined by more than Rs 100 billion in the first month of the current fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 22: Bank deposits declined by more than Rs 100 billion in the first month of the current fiscal year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Nepal Bankers Association, the total deposits of commercial banks in the last month of Fiscal Year 2021/22 stood at Rs 4541 billion, which dropped to Rs 4433 billion due to withdrawal of Rs 108 billion in the Nepali month of Shrawn (mid-July to mid-August).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bank deposits had increased by Rs 150 billion in the month of Asar (mid-June to mid-July) but the deposits started declining continually the very next month. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bank deposits declined by Rs 64 billion in the third week of July followed by withdrawal of Rs 28 billion in the third week. Likewise, bank deposits declined by Rs 4 billion in the first week of August and by Rs 25 billion in the second week followed by a decline of 13 billion the next week.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal Rastra Bank’s Spokesperson Dr Gunakar Bhatta believes that the bank deposits declined in the review month because the state-owned Nepal Oil Corporation paid its long-standing debt to the Indian Oil Corporation during the beginning of the new fiscal year and the construction companies also withdrew the amount deposited in their names by the government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bhatta believes that the amount will slowly return back to the banking system.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NOC had borrowed Rs 16 billion from the government and paid its dues to the IOC in the third week of July.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The central bank also estimates that the bank deposits declined in the first month of the current fiscal year because the unspent budget of the local levels were returned back to the state coffers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although the bank deposits declined, credit flow of banks have increased nominally during the review period.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The total credit flow of banks in the last month of FY 2021/22 was Rs 4175 billion which increased to Rs 4177 billion by mid-August.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-22', 'modified' => '2022-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '15579', 'image' => '20220822091844_Banks - Copy.jpg', 'article_date' => '2022-08-22 09:17:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15837', 'article_category_id' => '1', 'title' => 'Field Survey of Raxaul-Kathmandu Railway within 2022', 'sub_title' => '', 'summary' => 'August 22: The field survey of Raxaul-Kathmandu railway is likely to be completed soon. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">August 22: The field survey of Raxaul-Kathmandu railway is likely to be completed soon. By next December, the Konkan Railway team of India will submit the final report of the project along with the DPR and other test reports to the Government of India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">The study of this railway is being done with the grant of the Government of India. Indian newspaper Prabhat Khabar has published the news that the construction of this railway is likely to start within the year 2023 after completion of all pre-construction studies.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">Studies have shown that a train can run at a speed of 120 kilometers per hour on this route. According to the survey team, the Raxaul-Kathmandu Railway will be 140 km long. It is mentioned in the news that the last 40 km section will be electrified with double track. Similarly, it has been reported that a single line broad gauge from Raxaul extending up to 99 kilometers will be electrified. The last 40 kilometers ie the section towards Kathmandu will be built on a double track due to the geographical location. In order to avoid problems in the future, it is being tried to make the section on a double track. As the remaining 99 km will be in the Terai section, it will be easy to make the track.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">The team of Konkan Railway is currently undertaking the final survey from Raxaul to Kathmandu. Along with the field survey, the team is also conducting soil tests at the places where bridges and tunnels are to be built. It is mentioned in the news published by Prabhat Khabar that the Government of Nepal, the Indian Consulate and locals are assisting the survey team.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">According to the survey team, 12 stations will be built on this railway from Raxaul to Kathmandu. Railway stations will be built in Raxaul, Birgunj, Belwa, Manharwa, Saphi Bazar, Nijgadh, Makwanpur, Diyal, Shikharpur, Sahitakhel, Sisneri and Kathmandu.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">According to the preliminary reports, a total of 33 tunnels will have to be built along the railway line. The survey team has informed that the longest tunnel will be of 8 kilometers. In addition, 305 small bridges will have to be built between Raxaul and Kathmandu, including an 800-meter long cable bridge. The longest bridge of the railway will be 1,500 meters. Forty seven kilometers away from Raxaul, the railway will be built in forest and hill areas.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">In the year 2077, the Government of Nepal had requested the Indian government to prepare a detailed project report (DPR) of this railway, but the survey was stopped due to the coronavirus pandemic. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">From the current survey, it will be known what kind of train can be run, and at which point the main structures like tunnels, bridges and stations should be built.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">In August 2075, an agreement was reached between the governments of Nepal and India to conduct the feasibility study of this railway. Similarly, an agreement was signed with China in October 2076 to study the feasibility of the Kerung-Kathmandu railway.</span></span></p> ', 'published' => true, 'created' => '2022-08-22', 'modified' => '2022-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '15578', 'image' => '20220822093824_1661070546.jpg', 'article_date' => '2022-08-22 09:37:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15839', 'article_category_id' => '1', 'title' => 'Nepal and UK Sign Labour Pact ', 'sub_title' => '', 'summary' => 'August 22: The Government of Nepal has signed a memorandum of understanding (MoU) with the United Kingdom to send medical human resources to the UK. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 22: The Government of Nepal has signed a memorandum of understanding (MoU) with the United Kingdom to send medical human resources to the UK. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Secretary at the Ministry of Labour, Employment and Social Security, Ek Narayan Aryal and British Ambassador to Nepal, Nicola Pollitt signed the MoU amidst a programme held at the ministry on Monday, August 22. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the MoU, human resources of medical background from Nepal will get employment opportunities in the UK. The nurses going to the UK for employment need not pay any fees, the ministry informed. According to the agreement, nurses from Nepal can work in the UK for five years. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-22', 'modified' => '2022-08-23', 'keywords' => '', 'description' => '', 'sortorder' => '15577', 'image' => '20220822030755_Flag-Pins-Nepal-Great-Britain_600x600.jpg', 'article_date' => '2022-08-22 15:07:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15835', 'article_category_id' => '1', 'title' => 'NEA Exports Energy worth Around Rs 2 Billion to India in First Month of Current FY ', 'sub_title' => '', 'summary' => 'August 21: Nepal Electricity Authority (NEA) exported electricity worth around Rs 2 billion to neighbouring India in the first month of the current fiscal year (FY 2022/23) beginning from July 17, 2022. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 21: Nepal Electricity Authority (NEA) exported electricity worth around Rs 2 billion to neighbouring India in the first month of the current fiscal year (FY 2022/23) beginning from July 17, 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NEA, the state-owned producer and distributor of electricity in Nepal, traded surplus power of over 242 million units worth Rs 1.83 billion to India where power demand in monsoon is higher, NEA said. Currently, NEA is effortful to export additional 111 megawatts of electricity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">While it earned a total Rs 16.1 billion in profits from the sale of electricity in the previous fiscal year, 2021/22, the average profit from power export stood at Rs 59 million a day in the first month of the current fiscal year or the Nepali month of Shrawan (mid-July to mid-August). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NEA started trading surplus energy from monsoon on the Day-Ahead Market of the Indian Energy Exchange Limited (IEX) since June 2, 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the first phase, 39 megawatts of electricity generated from two power houses was traded with the IEX. Thereafter, 364 megawatts of electricity generated by six different power houses in the country was traded since June 10, 2022 on a daily basis at competitive rates. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Power exports took place through the 400 kV Dhalkebar-Muzaffarpur transmission line. In the previous FY, the NEA exported power worth Rs 3.8 billion. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-21', 'modified' => '2022-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '15576', 'image' => '20220821081848_NEA.jpg', 'article_date' => '2022-08-21 20:18:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15834', 'article_category_id' => '1', 'title' => '‘Cement Export has Good Potential with Government Support’', 'sub_title' => '', 'summary' => 'August 21: Pashupati Murarka, former president of the Federation of Nepalese Chamber of Commerce and Industry and the director of Murarka Group has said that since Nepal is an underdeveloped country, there is a lot of potential for expansion of industries.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 21: Pashupati Murarka, former president of the Federation of Nepalese Chamber of Commerce and Industry and the director of Murarka Group has said that since Nepal is an underdeveloped country, there is a lot of potential for expansion of industries. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">During an interview with New Business Age, he shared that the country has failed to reduce trade deficit which it could have done through increasing domestic production.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Murarka argued that since the country has become self-sufficient in cement even in such dire situation of trade deficit, the government should work to export cement as soon as possible. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He added that even after two months of announcing the budget for the current fiscal year, the government has not been able to implement the process of providing subsidy for cement export.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Murarka said that it is not easy to export cement from Nepal due to high cost of transportation and lack of adequate electricity. According to him, the country's trade deficit can be reduced to some extent by exporting cement if the government facilitates it. However, for that, the government should create an environment through policy reforms as only half of the cement produced in the country is consumed in Nepal while India can be a destination with great potential for cement export. As per him, if taxes are reduced, concessions are given in electricity tariff and export subsidies are given, Nepal's trade deficit can be reduced through export of cement. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">India's Uttar Pradesh and Bihar can be good markets for Nepal's cement. He says that domestic cement industries are not running at their full capacity as they are unable in find the export market.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that limestone, the raw material used in the cement industry, can be found locally. But the market is small, so the government should facilitate the expansion of the market in India as Nepal has already invested heavily in the cement industry in a short period of time, says Murarka. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In the past, some industries which imported clinker from abroad are now producing clinker by themselves.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Murarka also said that the private sector is facing problems due to lack of long-term vision of the government. He complained that there are various obstacles in the development of the Nepal’s economy and the industrialists are still forced to face tax-related legal troubles.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Murarka said that he got involved in business without studying. His father rose to the top by running a cloth and rice business in Lahan. He was expert at accounting at a young age and expanded his father's traditional business and now operates more than 15 businesses under the Murarka Group. He says that Murarka Group stood on the foundation built by his grandfather and father with hard work.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Murarka Group, which is doing business in Biratnagar, Nepalganj, Bhairahawa and other areas, has its own history in business travel in Nepal. About 80 years ago, Murarka Group, which started from rice and cloth business, has now expanded its investment in insurance and banking sector as well as steel, cement, paints, refined oil, hydropower, automobiles, mobile phone industries etc. Murarka Group is operating Arghakhanchi cement plant in Bhairahawa with a capacity to produce 3,000 tons of cement per day. Nepal Hydro with a capacity of 4 megawatts and Modi Hydropower with a capacity of 20 megawatts are being constructed with investment from this group as well.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The group, which believes that it should invest only in areas where profits are guaranteed, is planning to expand its investment in various areas in the future, even though business expansion has been hindered due to lack of liquidity.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-21', 'modified' => '2022-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '15575', 'image' => '20220821032755_1661066193.jpg', 'article_date' => '2022-08-21 15:27:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15833', 'article_category_id' => '1', 'title' => 'Companies Act Hampering Business Environment', 'sub_title' => '', 'summary' => 'August 21: Delay in the services provided by the Company Registrar's Office is not a new issue.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">August 21: Delay in the services provided by the Company Registrar's Office is not a new issue. However, no one seems to be paying attention to the fact that the Company Registration Act is deteriorating business environment.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Individuals wanting to start an industry in Darchula in the far west with an investment of Rs 500,000 have to travel all the way to Kathmandu to register the company. They even need to visit Kathmandu for renewal. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">If someone has to spend Rs 100, 000 to register an industry worth Rs 500, 000, how will it help the environment for doing business? questioned Advocate Dr Rudra Sharma.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He argues that a conducive environment for doing business can be created if first and foremost the company registration process is decentralized and given to the local level.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Secondly, Sharma said that it will help a lot in creating a business environment if the laws and regulations made with the concept that lots of transactions will take place from the very first year after registration of the industry are changed.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">With this kind of mentality of the government, even the industry whose annual turnover is less than Rs 50,000 has to bear the burden of expenses by appointing an auditor.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that due to the requirement of appointing an auditor from the beginning, a small industry cannot bear the expenses and it will be forced to shut down within 2/3 years.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He expressed his view that the government should allow the companies with investment of Rs 500, 000 to 1 million the option to self-declare the company's business for the first 5 to 10 years.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-21', 'modified' => '2022-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '15574', 'image' => '20220821030331_Industrial-Policy.jpg', 'article_date' => '2022-08-21 15:01:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15832', 'article_category_id' => '1', 'title' => 'Preparation Underway for Direct Flights between Nepal and Myanmar', 'sub_title' => '', 'summary' => 'August 21: Myanmar's ambassador to Nepal, U Sein Oo informed that preparations are underway to start direct flights from Yangoon, Myanmar to the newly-built Gautam Buddha International Airport in Bhairahawa.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 21: Myanmar's ambassador to Nepal, U Sein Oo informed that preparations are underway to start direct flights from Yangoon, Myanmar to the newly-built Gautam Buddha International Airport in Bhairahawa. Ambassador Oo informed this while addressing the opening session of the 12th Annual General Assembly of the Nepal Myanmar Chamber of Commerce and Industries, adding that the Embassy of Myanmar in Kathmandu has already sent a proposal to the government in this regard. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“Since there is a harmonious relationship between the two countries at the citizen level, we are going to expand trade and economic relations between the two countries as well as establish air connectivity,” said the ambassador.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Speaking at the event, Nepal’s ambassador designate to Myanmar Harish Chandra Ghimire, said that there is a great potential for cultural, trade and linguistic exchange between these two countries. He added that Myanmar is acting as a bridge between SAARC and ASEAN countries. Referring the Nepalese in Myanmar as second biggest diaspora, Ghimire said that they can act as 'soft power' in the case of Nepal.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The president of the chamber, Shiva Kumar Agrawal requested the governments of both countries to work towards the establishment of direct air links for the promotion of bilateral trade, investment and tourism. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“We want to promote trade, investment and tourism between Nepal and Myanmar. Direct air connectivity is necessary for both countries to benefit from the potential of both sides,” said Agrawal. He also informed that the chamber is working to strengthen economic, cultural and citizen-level relations between the two countries.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The opening session of the General Assembly was addressed by Rajesh Agarwal, vice president of Confederation of Nepalese Industry, Sunil Kumar Bansal, president of Nepal Overseas Exporters Association, Lokmanya Golcha, outgoing dean of Consular Corps Nepal and others.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-21', 'modified' => '2022-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '15573', 'image' => '20220821021625_20220516125900_1652665732.jpg', 'article_date' => '2022-08-21 14:15:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">August 23: The business of multinational company Surya Nepal Pvt Ltd is increasing every year. The annual turnover of company in 2021 was about Rs 24.5 billion. The company, which has a large share in the cigarette trade of Nepal, did business worth Rs 24 billion 493 million during the review year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The company has a unique identity in the business world of Nepal. It did business worth Rs 24.47 billion in 2020 and Rs 25.13 billion in 2019. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the rating agency Care Rating Nepal, Surya Nepal earned a net profit of Rs 9.41 billion in 2021 and Rs 9.55 billion in 2020.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The company produces Surya brand cigarettes, matchsticks, incense sticks and chocolates. Currently, the company produces Surya Legend, Surya 24 Karat, Surya Luxury, Shikhar Filter Kings, Khukuri Filter, Pilot Filter, Electric Filter, and Chautari brand cigarettes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Sanjeev Puri, is the chairman of the company which is doing the most business among FMCG in Nepal. He is also the chairman of the Indian company ITC India Limited. ITC, which is run through joint investment of foreign and local businessmen of India, has 59 percent share in Surya Nepal, while 39 percent stakes are owned by Nepali companies and investors and 2 percent by British American Tobacco (Investment) Limited UK. Surya Nepal, which was established in 1986, has been among the top taxpayers of Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Surya Nepal has managed to remain in the top-ten list of taxpayers for a long. Care Rating has rated the company in A-One category.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Due to the lockdown imposed to contain the Covid-19 pandemic in the country and the increase in the price of raw materials, the company's business during that period was affected and the projected income shrunk. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Since Surya Nepal is not a public company, ordinary investors do not have any benefit or loss from its profit. However, the revenue received by the government, the employment created by the company and the contribution made to the Nepalese economy are important.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">There are other companies operating in Nepal with domestic and foreign investment as well. However, others have not achieved as much success as Surya Nepal. Foreign direct investment in companies in Nepal has been giving good returns due to the excellence in business by those companies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Lately, Surya Nepal is planning to invest in five-star hotels as part of its business expansion programme. The company has more than 100 distributors across the country. It has industries in Simra of Bara and Tanahun. The company is also involved in various social works under its corporate social responsibility as well.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-23', 'modified' => '2022-08-23', 'keywords' => '', 'description' => '', 'sortorder' => '15587', 'image' => '20220823011401_Company-HO1 - Copy.jpg', 'article_date' => '2022-08-23 13:13:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15845', 'article_category_id' => '1', 'title' => 'Govt Spent Rs 1.05 Billion for Industrial Village but Infrastructure not Yet Ready', 'sub_title' => '', 'summary' => 'August 23: The government has invested more than Rs 1 billion in four years since launching the concept of industrial villages to develop micro, domestic and small industries at the municipal level.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 23: The government has invested more than Rs 1 billion in four years since launching the concept of industrial villages to develop micro, domestic and small industries at the municipal level. Although the government has declared more than 105 industrial villages since the approval of the procedure in 2018, it has so far failed to build the required industrial infrastructure.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">This programme was officially started after the Council of Ministers approved the 'Industrial Village Declaration and Operation Procedure-2075' in March 2018. Since then, the Ministry of Industry, Commerce and Supplies has already spent Rs 1.05 billion in the first phase of setting up those industrial villages. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After the recommendation of the rural municipality to develop the industrial village up to the municipal level, the ministry provides a budget of Rs 10 million per industrial village. Accordingly, the investment has been made in that industrial villages so far.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">It has been four years since it was announced that the industrial villages would be built by mobilizing local resources, raw materials, technology and skills, but not a single village has been operational so far.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Chandrakala Paudel, joint secretary at the ministry, admitted that not a single industrial village has been completed so far. She clarified that it took a long time to set up the industrial village because the detailed project report and environmental impact assessment took more time than expected.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"There wasn’t any problem about land acquisition because the concept of industrial village concept based on government land," Poudel said, adding that some DPRs revealed that the cost estimate would be more than the allocated budget.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“We will assess the current delay and work to bring the industrial villages into operation as soon as possible,” she added. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government has announced the establishment of industrial villages in all 753 local units of the country. The work of infrastructure development for the industrial villages has not been able to pick up speed.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Poudel said that since the concept of creating industrial villages has already started and more than 100 villages have been announced, the focus will be on building industrial infrastructure from the current financial year. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">s</span></span></p> ', 'published' => true, 'created' => '2022-08-23', 'modified' => '2022-08-23', 'keywords' => '', 'description' => '', 'sortorder' => '15586', 'image' => '20220823121105_Industrial-Policy.jpg', 'article_date' => '2022-08-23 12:10:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15844', 'article_category_id' => '1', 'title' => 'Indian Passengers Overwhelmed by Janakpur-Jaynagar Railway Service', 'sub_title' => '', 'summary' => 'August 23: With the opening of Janakpur-Jayanagar railway service, it has become easier for Indian pilgrims to visit Nepal. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 23: With the opening of Janakpur-Jayanagar railway service, it has become easier for Indian pilgrims to visit Nepal. Since the train started running regularly from Kurtha of Nepal to Jayanagar of India, it has become easy for religious tourists as well as other passengers to travel in Nepal.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Prime Minister Sher Bahadur Deuba and Indian Prime Minister Narendra Modi had launched the cross-border train service virtually on April 2, 2022. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">India had completely stopped the train service since 2014 for the upgrading the railways. With the resumption of train services from April, it has become convenient for Indian tourists to visit Janaki Temple in Janakpur as well as Pashupatinath temple in Kathmandu. Passengers also say that the railway route has made it easy for them to travel. They say that the operation of the train has helped the transport service between India and Nepal has become organized.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Indian tourist Suman Bhiwa said that he felt happy visiting Nepal. He said that travelling has become much easier than it was before. Another Indian passenger, Sarita Kumari said that the operation of Nepal-India railway service has facilitated the passengers a lot. She requested to increase it further as the railway service only runs twice a day. She added that the cost of traveling by train has also decreased over time.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Train ticket seller Santu Kumar Yadav informed that the number of passengers is on the rise of late. He said that more trains should be added to handle the crowd of passengers. According to him, about 45 percent of passengers come from India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government issued the Railway Ordinance for the third time on March 22, 2022 to run the train. India handed over the railway to the Nepal Railway Company after extending the section towards Nepal to broad gauge and conducting a speed test.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">All the civil works for broad gauge expansion on the 34 km Janakpur-Jayanagar railway were completed four years ago. The government had announced to run trains on the Janakpur-Jayanagar route from January 2018. However, due to various reasons, it was not possible to run the train. However, with the re-operation of the train from April last year, it has become easier for Nepali and Indian citizens to travel.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-23', 'modified' => '2022-08-23', 'keywords' => '', 'description' => '', 'sortorder' => '15585', 'image' => '20220823112051_1661169484.NepaliRailway.jpg', 'article_date' => '2022-08-23 11:20:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15843', 'article_category_id' => '1', 'title' => 'Tourism Minister in Favour of Promoting Religious Tourism', 'sub_title' => '', 'summary' => 'August 23: Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha has stressed on the need to create a favourable environment for attracting religious tourists to Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">August 23: Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha has stressed on the need to create a favourable environment for attracting religious tourists to Nepal. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">He made such remark while inaugurating a museum in Pashupati area on Monday. On the occasion, Minister Shrestha pledged to do his best to create a favourable environment to bring in foreign pilgrims to Pashupatinath Temple. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">He said that the Pashupati Temple holds great significance among the Hindus around the world and many of them aspire to visit the temple once in their lifetime. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“The Pashupatinath Temple is the identity of our culture. Therefore, the Pashupati Area Development Trust needs to pay proper attention in facilitating the tourists who visit this holy shrine. It is also necessary to take care of the cleanliness and hygiene of the temple and the maintenance and renovation of the infrastructure,” said Minister Shrestha.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">He claimed that Nepal can promote religious tourism only if the country can preserve and promote its cultural heritage. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Minister Shrestha added that the government has included protection of cultural heritage in its 73-point plan for revitalizing the tourism sector. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“Preservation of cultural heritage can only ensure promotion of religious tourism,” said Minister Shrestha, adding, “It also contributes to the economy.”</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">He argued that promotion of tourism can help create employment opportunities within the country and help in realizing the dream of prosperous Nepal. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The museum, which was damaged by the mega earthquake of 2015, was renovated with the support from Nepal Investment Bank Limited. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-23', 'modified' => '2022-08-23', 'keywords' => '', 'description' => '', 'sortorder' => '15584', 'image' => '20220823101523_main-qimg-2a1ebd792ce31c2b5fb833af387014a0-lq.jpg', 'article_date' => '2022-08-23 10:14:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15842', 'article_category_id' => '1', 'title' => 'NEA signs MoU with Nepal Police for Operation of Charging Station', 'sub_title' => '', 'summary' => 'August 23: Nepal Electricity Authority (NEA) has signed a Memorandum of Understanding (MoU) with the Nepal Police (NP) for the construction and operation of charging stations for electric vehicles (EV). ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 23: Nepal Electricity Authority (NEA) has signed a Memorandum of Understanding (MoU) with the Nepal Police (NP) for the construction and operation of charging stations for electric vehicles (EV). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Inspector General of Nepal Police Dhiraj Pratap Singh and Nepal Electricity Authority's Executive Director Kulman Ghising signed the MoU amid a function on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Inspector General Singh, extending gratitude towards the NEA for the MoU, urged the NEA leadership for expanding charging stations in the police offices having huge workforce. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that Nepal Police had been collaborating with NEA in cases of theft and leakage of electricity, Singh assured that the Nepal Police was ever ready to give security to the charging stations to be built along the highways and hill areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Ghising shared that NEA was planning to build a charging station in every 60 kilometres in the highway and opined that the role of police was very important in this regard. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, collaborating with Nepal Police would be very important in addressing the security concerns of the charging stations and issues related to locating the right venue to build the charging stations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The MoU aims to promote usage of EV. The deal has been inked in the context of the environment, ecology and living creatures being affected by carbon emission from fossil-fuel powered vehicles as well as industries. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-23', 'modified' => '2022-08-23', 'keywords' => '', 'description' => '', 'sortorder' => '15583', 'image' => '20220823094530_EV.jpg', 'article_date' => '2022-08-23 09:44:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15841', 'article_category_id' => '1', 'title' => 'MoU with UK Opens New Avenue of Employment for Nepali Healthcare Professionals ', 'sub_title' => '', 'summary' => 'August 22: The government has signed a bilateral agreement with the UK with the aim to provide highly-paid jobs to Nepali youths in the UK.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 22: The government has signed a bilateral agreement with the UK with the aim to provide highly-paid jobs to Nepali youths in the UK.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Secretary at the Ministry of Labour, Employment and Social Security, Eaknarayan Aryal, and British Ambassador to Nepal, Nicola Pollitt signed the memorandum of understanding (MoU) to recruit Nepali healthcare professionals in the UK's health sector. The MoU was signed in presence of Minister for Labour, Employment and Social Welfare, Sher Bahadur Kunwar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The MoU has become a new milestone for Nepal in terms of diversifying employment destinations for the country’s youth. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The MoU has established Government to Government (G2G) bilateral agreement on fair and ethical recruitment of Nepali healthcare professionals to work in the UK's health sector. This pact is expected to encourage individuals seeking healthcare career and help strengthen the healthcare workforce in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Once selected, the Nepali healthcare professional will be provided the support required for them to be placed in the UK health system. They will also receive equal rights, privileges, protections and dignity as health professionals from the UK. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prior to this, the government has signed labour agreement with countries providing high remuneration including Israel, Japan and Mauritius. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Department of Foreign Employment of Nepal will work with the Department of Health and Social Care of the UK and its designated entity to undertake the recruitment process. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A joint press release issued after the programme reads, "An understanding has been reached to determine implementation protocol at the participation of government bodies of both countries in order to take the recruitment process to the conclusion." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">All the information related to recruitment process of health workers would be kept at Labour Ministry's website. Applicants, who fulfill the eligibility criteria, shall need to submit all required documents to the Department of Foreign Employment's online platform. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepali citizens aged between 20 and 45 years holding a valid Nepali passport, who have pursued Staff Nurse, Bachelors's Degree in Nursing (B Sc) or Bachelor of Nursing or Master's degree in Nursing from a recognized institution by the Government of Nepal can file application. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The applicant should have an active professional license from the Nepal Nursing Council and at least two years of experience in a registered hospital in Nepal. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-22', 'modified' => '2022-08-23', 'keywords' => '', 'description' => '', 'sortorder' => '15582', 'image' => '20220823093716_RS_KTM_IMGL626008222022.jpg', 'article_date' => '2022-08-22 18:21:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15840', 'article_category_id' => '1', 'title' => 'Goods Being Imported for Festive Season Stuck across the Northern Border', 'sub_title' => '', 'summary' => 'August 22: Tatopani and Rasuwagadhi customs, the major trade checkpoints in the north, will not be opened anytime soon. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">August 22: Tatopani and Rasuwagadhi customs, the major trade checkpoints in the north, will not be opened anytime soon. Both of these checkpoints have been closed since the last two weeks due to the extension of lockdown in Lhasa amid rise in coronavirus infection. Officials say that the border points with China will not be opened immediately.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the Nepali Consulate in Lhasa, China had announced a lockdown there until Sunday. However, the lockdown has been extended till Tuesday as the Covid patients are still seen and the tests have not been completed. China has not released any goods to Nepal for the last two weeks citing the reason of Covid-19. According to the Nepal Trans Himalayan Border Commerce Association, 400 containers carrying goods worth around Rs 5 billion have been currently stuck on the road across the border.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Bharat Karki, the owner of New Sugam Enterprises and general secretary of the association informed that around 350 to 400 containers are stopped at Kerung-Rasuwa and Khasa-Tatopani areas.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">His company imports goods from China. The stopped container contains items for Teej and Dashain festivals. "China has not allowed containers carrying clothes, shoes, Chinese walnuts to be brought to Nepal," he told New Business Age.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Karki informed citing Nepal’s Consul General in Lhasa, Navraj Dhakal, that the closure announced by the Chinese side is unlikely to be lifted immediately. "Goods worth billions of rupees have been stopped. We are asking the Consul General to take the initiative to open the border. However, he is saying that it is not going to open immediately,” said Karki.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The association is preparing to meet Minister for Industry, Commerce and Supplies Dilendra Prasad Badu and request him to take initiatives to ease the border obstruction. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Prabhu Adhikari, the owner of PNP Enterprises, says that the business has become chaotic due to the stoppage of goods during the festive season. According to him, due to the sudden closure of the northern border, the businessmen are facing double expenses and debt.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">"The situation has worsened as goods worth billions of rupees have been held up on the way," he said, "We are in trouble because the border has been closed on the eve of the festival." The government should take the initiative to resume imports, he added.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The Nepal National Federation of Entrepreneurs is of the view that traders are in trouble after goods were stopped at the Chinese border on the eve of Dashain. The federation has also requested the government to solve the problem at the border immediately through diplomatic initiatives. President of the Federation Kumar Karki said, “There has been a problem at Tatopani and Kerung checkpoints for some time. Imported materials are being stopped at the Chinese border. Exports have been stalled for a long time. The government should take the initiative to open it immediately.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to him, the goods intended for the festivals have been stopped at the Chinese border. If those goods do not arrive on time, the entire business is under risk of going bankrupt. If the border is not opened, there is a situation where many industrialists may flee from their businesses. Karki says that the government should start diplomatic initiatives as soon as possible to solve the problems seen at the border.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-22', 'modified' => '2022-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '15581', 'image' => '20220822061309_1661142938.Tatopani Naka.jpg', 'article_date' => '2022-08-22 18:12:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15838', 'article_category_id' => '1', 'title' => 'Counterfeit Shoes Helping in Promotion of Goldstar Brand', 'sub_title' => '', 'summary' => 'August 22: There is hardly any person who hasn’t heard about Hattichhap slippers and Goldstar shoes, which are used synonymously in the domestic market of Nepal.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 22: There is hardly any person who hasn’t heard about Hattichhap slippers and Goldstar shoes, which are used synonymously in the domestic market of Nepal.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Goldstar, known as the shoes of Nepali lifestyle, is now not limited to the choice of the old generation, but is also accepted as a fashionable brand by urban youth. Goldstar is now so popular that counterfeit brands using its logo are rampant in the market.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">During a conversation with New Business Age on Sunday, Amir Pratap Rana, chairman and managing director of Kiran Shoes Manufactures, the company that produces Hattichhap slippers and Goldstar shoes, said that even though counterfeit shoes have hit the market in the guise of Goldstar brand, the company's business is not affected that much. Rana says that the company did not have to spend much on branding because the brand is being promoted by of those who put the Goldstar stamp on the shoes brought from abroad.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Noor Pratap Rana of Palpa started this business from Hetauda, which is now handled by his son Amir Pratap and daughter-in-law Vidushi. The production of Hattichap slippers started in 1970. Due to political changes and labor strikes, the industry was brought from Hetauda to Kathmandu in 1985. Since the Hattichap slipper factory was set up in Ring Road, the entire stretch of two kilometers area from Narayan Gopal Showk in Maharajganj towards Chabahill is known as slipper factory (Chappal Karkhana). According to Rana, after moving the industry from Hetauda to Kathmandu, Kiran Shoes Manufacturers started producing shoes.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Goldstar is one of the latest items to be exported from Nepal. According to Rana, after Goldstar got a good market, some traders and shoe manufacturers started selling counterfeit Goldstar shoes to destroy the reputation of the company. Despite repeated attempts to tarnish the company's brand, original Goldstar's market remains good.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He says that many fake shoes have come in the market lately and the customers are being cheated. According to Rana, foreign brand shoes are also sold with fake stickers. The company is currently producing 100 million pairs of slippers and Goldstar shoes daily. In Bhairahawa, seven bighas of land have been bought and a production plant is being set up. The plant will be operational shortly after. While expanding the business, the company opened showrooms and outlets in different districts and franchises in America and Australia.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company's products are exported to India, Qatar, Bahrain, Japan, Malaysia and other countries. The company provides direct employment to 2700 people, among whom 65 percent are women.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After Covid-19, the company also started producing leather shoes. Rana said that the company's goal is to increase production and export to all countries of the world by 2025, despite the decline in production due to problems in importing raw materials during the earthquake and Covid-19. Indians are also excited about the Goldstar brand for the past few years. Currently, the company exports about 75 percent of its total production to India besides other countries.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Rana sees the need for industry-friendly policies and laws to run industries and businesses in the country. He suggested that the government should cooperate with the private sector. Rana, who is also the chairman of Kumari Bank, said that he is moving ahead in a planned manner, seeing the good future of attractive, durable, affordable footwear in Nepal and abroad.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that since long-term thinking and investment are necessary to run industries and businesses, he is also considering the issue of initial public offering (IPO).</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-22', 'modified' => '2022-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '15580', 'image' => '20220822012338_20211012093138_Goldstar.jpg', 'article_date' => '2022-08-22 13:22:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15836', 'article_category_id' => '1', 'title' => 'Bank Deposits Decline in First Month of Current Fiscal Year', 'sub_title' => '', 'summary' => 'August 22: Bank deposits declined by more than Rs 100 billion in the first month of the current fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 22: Bank deposits declined by more than Rs 100 billion in the first month of the current fiscal year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Nepal Bankers Association, the total deposits of commercial banks in the last month of Fiscal Year 2021/22 stood at Rs 4541 billion, which dropped to Rs 4433 billion due to withdrawal of Rs 108 billion in the Nepali month of Shrawn (mid-July to mid-August).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bank deposits had increased by Rs 150 billion in the month of Asar (mid-June to mid-July) but the deposits started declining continually the very next month. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bank deposits declined by Rs 64 billion in the third week of July followed by withdrawal of Rs 28 billion in the third week. Likewise, bank deposits declined by Rs 4 billion in the first week of August and by Rs 25 billion in the second week followed by a decline of 13 billion the next week.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal Rastra Bank’s Spokesperson Dr Gunakar Bhatta believes that the bank deposits declined in the review month because the state-owned Nepal Oil Corporation paid its long-standing debt to the Indian Oil Corporation during the beginning of the new fiscal year and the construction companies also withdrew the amount deposited in their names by the government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bhatta believes that the amount will slowly return back to the banking system.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NOC had borrowed Rs 16 billion from the government and paid its dues to the IOC in the third week of July.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The central bank also estimates that the bank deposits declined in the first month of the current fiscal year because the unspent budget of the local levels were returned back to the state coffers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although the bank deposits declined, credit flow of banks have increased nominally during the review period.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The total credit flow of banks in the last month of FY 2021/22 was Rs 4175 billion which increased to Rs 4177 billion by mid-August.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-22', 'modified' => '2022-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '15579', 'image' => '20220822091844_Banks - Copy.jpg', 'article_date' => '2022-08-22 09:17:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15837', 'article_category_id' => '1', 'title' => 'Field Survey of Raxaul-Kathmandu Railway within 2022', 'sub_title' => '', 'summary' => 'August 22: The field survey of Raxaul-Kathmandu railway is likely to be completed soon. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">August 22: The field survey of Raxaul-Kathmandu railway is likely to be completed soon. By next December, the Konkan Railway team of India will submit the final report of the project along with the DPR and other test reports to the Government of India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">The study of this railway is being done with the grant of the Government of India. Indian newspaper Prabhat Khabar has published the news that the construction of this railway is likely to start within the year 2023 after completion of all pre-construction studies.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">Studies have shown that a train can run at a speed of 120 kilometers per hour on this route. According to the survey team, the Raxaul-Kathmandu Railway will be 140 km long. It is mentioned in the news that the last 40 km section will be electrified with double track. Similarly, it has been reported that a single line broad gauge from Raxaul extending up to 99 kilometers will be electrified. The last 40 kilometers ie the section towards Kathmandu will be built on a double track due to the geographical location. In order to avoid problems in the future, it is being tried to make the section on a double track. As the remaining 99 km will be in the Terai section, it will be easy to make the track.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">The team of Konkan Railway is currently undertaking the final survey from Raxaul to Kathmandu. Along with the field survey, the team is also conducting soil tests at the places where bridges and tunnels are to be built. It is mentioned in the news published by Prabhat Khabar that the Government of Nepal, the Indian Consulate and locals are assisting the survey team.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">According to the survey team, 12 stations will be built on this railway from Raxaul to Kathmandu. Railway stations will be built in Raxaul, Birgunj, Belwa, Manharwa, Saphi Bazar, Nijgadh, Makwanpur, Diyal, Shikharpur, Sahitakhel, Sisneri and Kathmandu.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">According to the preliminary reports, a total of 33 tunnels will have to be built along the railway line. The survey team has informed that the longest tunnel will be of 8 kilometers. In addition, 305 small bridges will have to be built between Raxaul and Kathmandu, including an 800-meter long cable bridge. The longest bridge of the railway will be 1,500 meters. Forty seven kilometers away from Raxaul, the railway will be built in forest and hill areas.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">In the year 2077, the Government of Nepal had requested the Indian government to prepare a detailed project report (DPR) of this railway, but the survey was stopped due to the coronavirus pandemic. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">From the current survey, it will be known what kind of train can be run, and at which point the main structures like tunnels, bridges and stations should be built.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif"">In August 2075, an agreement was reached between the governments of Nepal and India to conduct the feasibility study of this railway. Similarly, an agreement was signed with China in October 2076 to study the feasibility of the Kerung-Kathmandu railway.</span></span></p> ', 'published' => true, 'created' => '2022-08-22', 'modified' => '2022-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '15578', 'image' => '20220822093824_1661070546.jpg', 'article_date' => '2022-08-22 09:37:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15839', 'article_category_id' => '1', 'title' => 'Nepal and UK Sign Labour Pact ', 'sub_title' => '', 'summary' => 'August 22: The Government of Nepal has signed a memorandum of understanding (MoU) with the United Kingdom to send medical human resources to the UK. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 22: The Government of Nepal has signed a memorandum of understanding (MoU) with the United Kingdom to send medical human resources to the UK. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Secretary at the Ministry of Labour, Employment and Social Security, Ek Narayan Aryal and British Ambassador to Nepal, Nicola Pollitt signed the MoU amidst a programme held at the ministry on Monday, August 22. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the MoU, human resources of medical background from Nepal will get employment opportunities in the UK. The nurses going to the UK for employment need not pay any fees, the ministry informed. According to the agreement, nurses from Nepal can work in the UK for five years. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-22', 'modified' => '2022-08-23', 'keywords' => '', 'description' => '', 'sortorder' => '15577', 'image' => '20220822030755_Flag-Pins-Nepal-Great-Britain_600x600.jpg', 'article_date' => '2022-08-22 15:07:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15835', 'article_category_id' => '1', 'title' => 'NEA Exports Energy worth Around Rs 2 Billion to India in First Month of Current FY ', 'sub_title' => '', 'summary' => 'August 21: Nepal Electricity Authority (NEA) exported electricity worth around Rs 2 billion to neighbouring India in the first month of the current fiscal year (FY 2022/23) beginning from July 17, 2022. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 21: Nepal Electricity Authority (NEA) exported electricity worth around Rs 2 billion to neighbouring India in the first month of the current fiscal year (FY 2022/23) beginning from July 17, 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NEA, the state-owned producer and distributor of electricity in Nepal, traded surplus power of over 242 million units worth Rs 1.83 billion to India where power demand in monsoon is higher, NEA said. Currently, NEA is effortful to export additional 111 megawatts of electricity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">While it earned a total Rs 16.1 billion in profits from the sale of electricity in the previous fiscal year, 2021/22, the average profit from power export stood at Rs 59 million a day in the first month of the current fiscal year or the Nepali month of Shrawan (mid-July to mid-August). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NEA started trading surplus energy from monsoon on the Day-Ahead Market of the Indian Energy Exchange Limited (IEX) since June 2, 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the first phase, 39 megawatts of electricity generated from two power houses was traded with the IEX. Thereafter, 364 megawatts of electricity generated by six different power houses in the country was traded since June 10, 2022 on a daily basis at competitive rates. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Power exports took place through the 400 kV Dhalkebar-Muzaffarpur transmission line. In the previous FY, the NEA exported power worth Rs 3.8 billion. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-21', 'modified' => '2022-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '15576', 'image' => '20220821081848_NEA.jpg', 'article_date' => '2022-08-21 20:18:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15834', 'article_category_id' => '1', 'title' => '‘Cement Export has Good Potential with Government Support’', 'sub_title' => '', 'summary' => 'August 21: Pashupati Murarka, former president of the Federation of Nepalese Chamber of Commerce and Industry and the director of Murarka Group has said that since Nepal is an underdeveloped country, there is a lot of potential for expansion of industries.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 21: Pashupati Murarka, former president of the Federation of Nepalese Chamber of Commerce and Industry and the director of Murarka Group has said that since Nepal is an underdeveloped country, there is a lot of potential for expansion of industries. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">During an interview with New Business Age, he shared that the country has failed to reduce trade deficit which it could have done through increasing domestic production.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Murarka argued that since the country has become self-sufficient in cement even in such dire situation of trade deficit, the government should work to export cement as soon as possible. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He added that even after two months of announcing the budget for the current fiscal year, the government has not been able to implement the process of providing subsidy for cement export.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Murarka said that it is not easy to export cement from Nepal due to high cost of transportation and lack of adequate electricity. According to him, the country's trade deficit can be reduced to some extent by exporting cement if the government facilitates it. However, for that, the government should create an environment through policy reforms as only half of the cement produced in the country is consumed in Nepal while India can be a destination with great potential for cement export. As per him, if taxes are reduced, concessions are given in electricity tariff and export subsidies are given, Nepal's trade deficit can be reduced through export of cement. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">India's Uttar Pradesh and Bihar can be good markets for Nepal's cement. He says that domestic cement industries are not running at their full capacity as they are unable in find the export market.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that limestone, the raw material used in the cement industry, can be found locally. But the market is small, so the government should facilitate the expansion of the market in India as Nepal has already invested heavily in the cement industry in a short period of time, says Murarka. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In the past, some industries which imported clinker from abroad are now producing clinker by themselves.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Murarka also said that the private sector is facing problems due to lack of long-term vision of the government. He complained that there are various obstacles in the development of the Nepal’s economy and the industrialists are still forced to face tax-related legal troubles.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Murarka said that he got involved in business without studying. His father rose to the top by running a cloth and rice business in Lahan. He was expert at accounting at a young age and expanded his father's traditional business and now operates more than 15 businesses under the Murarka Group. He says that Murarka Group stood on the foundation built by his grandfather and father with hard work.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Murarka Group, which is doing business in Biratnagar, Nepalganj, Bhairahawa and other areas, has its own history in business travel in Nepal. About 80 years ago, Murarka Group, which started from rice and cloth business, has now expanded its investment in insurance and banking sector as well as steel, cement, paints, refined oil, hydropower, automobiles, mobile phone industries etc. Murarka Group is operating Arghakhanchi cement plant in Bhairahawa with a capacity to produce 3,000 tons of cement per day. Nepal Hydro with a capacity of 4 megawatts and Modi Hydropower with a capacity of 20 megawatts are being constructed with investment from this group as well.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The group, which believes that it should invest only in areas where profits are guaranteed, is planning to expand its investment in various areas in the future, even though business expansion has been hindered due to lack of liquidity.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-21', 'modified' => '2022-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '15575', 'image' => '20220821032755_1661066193.jpg', 'article_date' => '2022-08-21 15:27:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15833', 'article_category_id' => '1', 'title' => 'Companies Act Hampering Business Environment', 'sub_title' => '', 'summary' => 'August 21: Delay in the services provided by the Company Registrar's Office is not a new issue.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">August 21: Delay in the services provided by the Company Registrar's Office is not a new issue. However, no one seems to be paying attention to the fact that the Company Registration Act is deteriorating business environment.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Individuals wanting to start an industry in Darchula in the far west with an investment of Rs 500,000 have to travel all the way to Kathmandu to register the company. They even need to visit Kathmandu for renewal. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">If someone has to spend Rs 100, 000 to register an industry worth Rs 500, 000, how will it help the environment for doing business? questioned Advocate Dr Rudra Sharma.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He argues that a conducive environment for doing business can be created if first and foremost the company registration process is decentralized and given to the local level.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Secondly, Sharma said that it will help a lot in creating a business environment if the laws and regulations made with the concept that lots of transactions will take place from the very first year after registration of the industry are changed.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">With this kind of mentality of the government, even the industry whose annual turnover is less than Rs 50,000 has to bear the burden of expenses by appointing an auditor.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that due to the requirement of appointing an auditor from the beginning, a small industry cannot bear the expenses and it will be forced to shut down within 2/3 years.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He expressed his view that the government should allow the companies with investment of Rs 500, 000 to 1 million the option to self-declare the company's business for the first 5 to 10 years.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-21', 'modified' => '2022-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '15574', 'image' => '20220821030331_Industrial-Policy.jpg', 'article_date' => '2022-08-21 15:01:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15832', 'article_category_id' => '1', 'title' => 'Preparation Underway for Direct Flights between Nepal and Myanmar', 'sub_title' => '', 'summary' => 'August 21: Myanmar's ambassador to Nepal, U Sein Oo informed that preparations are underway to start direct flights from Yangoon, Myanmar to the newly-built Gautam Buddha International Airport in Bhairahawa.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 21: Myanmar's ambassador to Nepal, U Sein Oo informed that preparations are underway to start direct flights from Yangoon, Myanmar to the newly-built Gautam Buddha International Airport in Bhairahawa. Ambassador Oo informed this while addressing the opening session of the 12th Annual General Assembly of the Nepal Myanmar Chamber of Commerce and Industries, adding that the Embassy of Myanmar in Kathmandu has already sent a proposal to the government in this regard. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“Since there is a harmonious relationship between the two countries at the citizen level, we are going to expand trade and economic relations between the two countries as well as establish air connectivity,” said the ambassador.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Speaking at the event, Nepal’s ambassador designate to Myanmar Harish Chandra Ghimire, said that there is a great potential for cultural, trade and linguistic exchange between these two countries. He added that Myanmar is acting as a bridge between SAARC and ASEAN countries. Referring the Nepalese in Myanmar as second biggest diaspora, Ghimire said that they can act as 'soft power' in the case of Nepal.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The president of the chamber, Shiva Kumar Agrawal requested the governments of both countries to work towards the establishment of direct air links for the promotion of bilateral trade, investment and tourism. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“We want to promote trade, investment and tourism between Nepal and Myanmar. Direct air connectivity is necessary for both countries to benefit from the potential of both sides,” said Agrawal. He also informed that the chamber is working to strengthen economic, cultural and citizen-level relations between the two countries.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The opening session of the General Assembly was addressed by Rajesh Agarwal, vice president of Confederation of Nepalese Industry, Sunil Kumar Bansal, president of Nepal Overseas Exporters Association, Lokmanya Golcha, outgoing dean of Consular Corps Nepal and others.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-21', 'modified' => '2022-08-21', 'keywords' => '', 'description' => '', 'sortorder' => '15573', 'image' => '20220821021625_20220516125900_1652665732.jpg', 'article_date' => '2022-08-21 14:15:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
